National Asset Management Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 53,323 shares of the coffee company’s stock after selling 1,160 shares during the quarter. National Asset Management Inc.’s holdings in Starbucks were worth $5,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wagner Wealth Management LLC acquired a new stake in shares of Starbucks during the first quarter worth about $26,000. WD Rutherford LLC purchased a new position in Starbucks in the first quarter valued at approximately $29,000. Joseph P. Lucia & Associates LLC grew its position in shares of Starbucks by 132.7% during the second quarter. Joseph P. Lucia & Associates LLC now owns 256 shares of the coffee company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Starbucks by 235.8% during the first quarter. Thompson Siegel & Walmsley LLC now owns 319 shares of the coffee company’s stock worth $35,000 after acquiring an additional 224 shares during the last quarter. Finally, Danda Trouve Investment Management Inc. acquired a new position in shares of Starbucks during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 68.27% of the company’s stock.
Several analysts have commented on the company. Robert W. Baird restated a “buy” rating on shares of Starbucks in a report on Wednesday, July 28th. Oppenheimer boosted their price target on Starbucks from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Morgan Stanley upped their price objective on Starbucks from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 28th. Piper Sandler increased their price target on Starbucks from $104.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Starbucks in a research note on Thursday, September 2nd. They issued a “hold” rating and a $127.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Buy” and a consensus price target of $126.15.
Starbucks stock traded down $4.09 during trading hours on Wednesday, reaching $114.77. 144,972 shares of the company’s stock were exchanged, compared to its average volume of 5,848,181. The firm’s 50 day simple moving average is $118.21 and its 200 day simple moving average is $114.01. Starbucks Co. has a twelve month low of $81.75 and a twelve month high of $126.32. The firm has a market capitalization of $135.33 billion, a PE ratio of 49.73, a PEG ratio of 3.06 and a beta of 0.88.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.23. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the prior year, the firm earned ($0.46) EPS. The business’s revenue was up 77.6% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Thursday, August 12th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, August 11th. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. Starbucks’s dividend payout ratio is currently 153.85%.
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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