KBC Group NV Boosts Position in Starbucks Corp. (SBUX)
KBC Group NV increased its position in Starbucks Corp. (NASDAQ:SBUX) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 160,303 shares of the coffee company’s stock after buying an additional 3,413 shares during the period. KBC Group NV’s holdings in Starbucks Corp. were worth $8,679,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Farmers National Bank acquired a new stake in shares of Starbucks Corp. during the second quarter worth about $101,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Starbucks Corp. during the second quarter worth about $107,000. Valley National Advisers Inc. increased its stake in shares of Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Starbucks Corp. during the second quarter worth about $123,000. Finally, Proficio Capital Partners LLC increased its stake in shares of Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during mid-day trading on Wednesday, reaching $58.01. The company’s stock had a trading volume of 4,342,446 shares. Starbucks Corp. has a 52 week low of $50.84 and a 52 week high of $62.54. The firm’s 50 day moving average price is $54.16 and its 200 day moving average price is $55.22. The firm has a market capitalization of $84.43 billion, a P/E ratio of 30.53 and a beta of 0.77.
Starbucks Corp. (NASDAQ:SBUX) last posted its earnings results on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corp. will post $2.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 17th will be given a $0.25 dividend. This is a boost from Starbucks Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is currently 52.63%.
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A number of analysts recently issued reports on the company. Goldman Sachs Group Inc. reissued a “buy” rating and set a $66.00 price objective on shares of Starbucks Corp. in a research report on Sunday, November 6th. BTIG Research set a $64.00 target price on Starbucks Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 target price for the company in a report on Monday, August 22nd. Piper Jaffray Cos. set a $72.00 target price on Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $58.00 target price on shares of Starbucks Corp. in a report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.30.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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