Mason Street Advisors LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,533 shares of the coffee company’s stock after selling 2,205 shares during the quarter. Mason Street Advisors LLC’s holdings in Starbucks were worth $15,079,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Enterprise Trust & Investment Co acquired a new stake in Starbucks in the second quarter worth about $25,000. 1 North Wealth Services LLC acquired a new stake in Starbucks in the third quarter worth about $30,000. Northern Oak Wealth Management Inc. grew its position in shares of Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after buying an additional 177 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in shares of Starbucks during the 2nd quarter worth about $32,000. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Starbucks by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock worth $33,000 after buying an additional 14,069 shares during the period. Hedge funds and other institutional investors own 70.68% of the company’s stock.
Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Morgan Stanley boosted their target price on Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered Starbucks from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. Oppenheimer boosted their target price on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird restated a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Starbucks presently has an average rating of “Hold” and an average price target of $89.64.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the firm earned $0.62 EPS. Starbucks’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a dividend yield of 1.99%. Starbucks’s payout ratio is currently 50.88%.
In related news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.80, for a total value of $191,600.00. Following the completion of the transaction, the chief accounting officer now owns 39,999 shares of the company’s stock, valued at $3,831,904.20. The disclosure for this sale can be found here. Insiders sold a total of 112,885 shares of company stock valued at $10,707,543 over the last quarter. 3.98% of the stock is owned by insiders.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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