Bath Savings Trust Co Buys 10,059 Shares of Starbucks Corp. (SBUX)
Bath Savings Trust Co raised its position in Starbucks Corp. (NASDAQ:SBUX) by 8.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,794 shares of the coffee company’s stock after buying an additional 10,059 shares during the period. Starbucks Corp. makes up approximately 2.2% of Bath Savings Trust Co’s investment portfolio, making the stock its 14th largest position. Bath Savings Trust Co’s holdings in Starbucks Corp. were worth $6,919,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Starbucks Corp. during the second quarter worth $204,254,000. Emerald Acquisition Ltd. acquired a new position in Starbucks Corp. during the second quarter worth $148,507,000. Capital World Investors boosted its position in Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock worth $1,520,879,000 after buying an additional 2,000,107 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Starbucks Corp. by 75.9% in the second quarter. Ameriprise Financial Inc. now owns 4,360,676 shares of the coffee company’s stock worth $249,099,000 after buying an additional 1,882,130 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock worth $1,206,513,000 after buying an additional 1,691,400 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.14% during trading on Friday, reaching $55.77. The company had a trading volume of 8,740,953 shares. The stock has a market cap of $81.45 billion, a PE ratio of 29.43 and a beta of 0.77. Starbucks Corp. has a 52-week low of $50.84 and a 52-week high of $63.19. The company has a 50-day moving average price of $53.59 and a 200 day moving average price of $55.22.
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 earnings per share for the current 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 1.79%. The ex-dividend date is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is currently 52.63%.
Several equities analysts have recently issued reports on the company. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a research note on Thursday. RBC Capital Markets reissued an “outperform” rating and set a $64.00 target price on shares of Starbucks Corp. in a research report on Monday, November 7th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $66.00 target price on shares of Starbucks Corp. in a research report on Sunday, November 6th. Jefferies Group reissued a “buy” rating and set a $65.00 target price on shares of Starbucks Corp. in a research report on Sunday, November 6th. Finally, Barclays PLC reissued an “equal weight” rating and set a $57.00 target price (down previously from $60.00) on shares of Starbucks Corp. in a research report on Sunday, November 6th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.50.
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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