Landscape Capital Management L.L.C. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 66.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,619 shares of the coffee company’s stock after purchasing an additional 27,043 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Starbucks were worth $5,669,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SBUX. Abbrea Capital LLC lifted its position in Starbucks by 1.9% during the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock worth $463,000 after acquiring an additional 105 shares during the period. Gamco Investors INC. ET AL lifted its position in Starbucks by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock worth $3,219,000 after acquiring an additional 115 shares during the period. Duncker Streett & Co. Inc. lifted its position in Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after acquiring an additional 120 shares during the period. D.B. Root & Company LLC lifted its position in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after acquiring an additional 122 shares during the period. Finally, Grove Bank & Trust lifted its position in Starbucks by 3.0% during the 2nd quarter. Grove Bank & Trust now owns 4,373 shares of the coffee company’s stock worth $367,000 after acquiring an additional 128 shares during the period. 72.54% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,801 shares of company stock valued at $6,301,684. 3.98% of the stock is owned by company insiders.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Starbucks’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 2.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 annualized dividend and a dividend yield of 1.51%. Starbucks’s dividend payout ratio is presently 59.50%.
A number of analysts have commented on SBUX shares. Stifel Nicolaus lifted their price target on Starbucks from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Morgan Stanley boosted their price objective on Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Bank of America set a $85.00 price objective on Starbucks and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup assumed coverage on Starbucks in a report on Wednesday, June 26th. They issued a “buy” rating and a $83.65 price objective for the company. Finally, KeyCorp boosted their price objective on Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $89.53.
Starbucks Company Profile
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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