Iberiabank Corp cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 68.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,981 shares of the coffee company’s stock after selling 68,348 shares during the period. Iberiabank Corp’s holdings in Starbucks were worth $2,280,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Endurance Wealth Management Inc. increased its stake in Starbucks by 1,352.7% in the 2nd quarter. Endurance Wealth Management Inc. now owns 32,817 shares of the coffee company’s stock worth $2,415,000 after acquiring an additional 30,558 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Starbucks by 2.0% in the 4th quarter. Sunbelt Securities Inc. now owns 19,699 shares of the coffee company’s stock worth $1,704,000 after acquiring an additional 395 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in Starbucks by 63.4% in the 1st quarter. Altfest L J & Co. Inc. now owns 6,904 shares of the coffee company’s stock worth $454,000 after acquiring an additional 2,680 shares during the last quarter. Signature Wealth Management Group increased its stake in Starbucks by 8.8% in the 2nd quarter. Signature Wealth Management Group now owns 9,688 shares of the coffee company’s stock worth $713,000 after acquiring an additional 787 shares during the last quarter. Finally, Hotaling Investment Management LLC bought a new stake in Starbucks in the 1st quarter worth approximately $227,000. 68.51% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on SBUX shares. Atlantic Securities started coverage on Starbucks in a research note on Monday, June 15th. They issued an “overweight” rating and a $95.00 price objective on the stock. Stephens boosted their target price on Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler cut their target price on Starbucks from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group boosted their target price on Starbucks from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Barclays boosted their price objective on shares of Starbucks from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.04.
NASDAQ:SBUX opened at $76.53 on Friday. Starbucks Co. has a 1-year low of $50.02 and a 1-year high of $98.14. The company has a 50-day moving average of $74.75 and a 200 day moving average of $77.29. The firm has a market cap of $89.59 billion, a PE ratio of 56.77, a price-to-earnings-growth ratio of 5.87 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was down 38.1% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 0.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 6th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
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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