Dohj LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,514 shares of the coffee company’s stock after selling 186 shares during the period. Dohj LLC’s holdings in Starbucks were worth $1,064,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Price T Rowe Associates Inc. MD raised its holdings in shares of Starbucks by 121.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,585,346 shares of the coffee company’s stock worth $1,265,931,000 after purchasing an additional 6,350,284 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Starbucks during the first quarter worth $358,133,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Starbucks during the first quarter worth $118,319,000. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Starbucks during the second quarter worth $81,394,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Starbucks by 10.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,168,456 shares of the coffee company’s stock worth $783,297,000 after purchasing an additional 703,125 shares during the period. 68.27% of the stock is currently owned by hedge funds and other institutional investors.
SBUX has been the subject of several recent research reports. MKM Partners upped their price target on shares of Starbucks from $125.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 28th. Wells Fargo & Company initiated coverage on shares of Starbucks in a research report on Sunday, June 20th. They set a “buy” rating for the company. Barclays upped their price target on shares of Starbucks from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. BMO Capital Markets increased their target price on shares of Starbucks from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Finally, Guggenheim initiated coverage on shares of Starbucks in a research report on Monday, July 26th. They issued a “neutral” rating and a $125.00 target price for the company. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Buy” and a consensus price target of $126.15.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.23. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same period in the prior year, the firm earned ($0.46) earnings per share. The firm’s revenue was up 77.6% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Thursday, August 12th were issued a $0.45 dividend. The ex-dividend date was Wednesday, August 11th. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. Starbucks’s dividend payout ratio is currently 153.85%.
In other Starbucks news, CEO Kevin R. Johnson sold 359,177 shares of the stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $122.81, for a total transaction of $44,110,527.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John Culver sold 148,619 shares of the stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $119.00, for a total value of $17,685,661.00. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.
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