Evercore Wealth Management LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,109 shares of the coffee company’s stock after purchasing an additional 2,360 shares during the period. Evercore Wealth Management LLC’s holdings in Starbucks were worth $1,939,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in Starbucks by 9.7% in the second quarter. Acadian Asset Management LLC now owns 21,788 shares of the coffee company’s stock valued at $1,064,000 after acquiring an additional 1,929 shares during the period. Dupont Capital Management Corp acquired a new position in Starbucks in the second quarter valued at about $731,000. Leisure Capital Management grew its stake in Starbucks by 120.8% in the second quarter. Leisure Capital Management now owns 11,269 shares of the coffee company’s stock valued at $550,000 after acquiring an additional 6,166 shares during the period. Bbva Compass Bancshares Inc. grew its stake in Starbucks by 199.1% in the second quarter. Bbva Compass Bancshares Inc. now owns 73,655 shares of the coffee company’s stock valued at $3,598,000 after acquiring an additional 49,026 shares during the period. Finally, Sigma Planning Corp grew its stake in Starbucks by 10.2% in the second quarter. Sigma Planning Corp now owns 36,847 shares of the coffee company’s stock valued at $1,800,000 after acquiring an additional 3,409 shares during the period. 76.05% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ SBUX opened at $61.39 on Friday. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $68.98. The company has a market capitalization of $79.47 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.80 and a beta of 0.52. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. On average, analysts forecast that Starbucks Co. will post 2.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a yield of 2.35%. Starbucks’s payout ratio is 59.50%.
Several research firms have recently weighed in on SBUX. Wedbush reaffirmed a “hold” rating and set a $53.00 price objective on shares of Starbucks in a research report on Tuesday, September 18th. Wells Fargo & Co upped their price objective on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Telsey Advisory Group upped their price objective on Starbucks from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, October 29th. Finally, UBS Group set a $72.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Starbucks currently has an average rating of “Buy” and a consensus target price of $66.23.
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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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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