Argus Investors Counsel Inc. Sells 400 Shares of Starbucks Corp. (SBUX)
Argus Investors Counsel Inc. cut its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,250 shares of the coffee company’s stock after selling 400 shares during the period. Argus Investors Counsel Inc.’s holdings in Starbucks Corp. were worth $4,128,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Farmers National Bank purchased a new position in Starbucks Corp. during the second quarter valued at $101,000. Cascade Investment Advisors Inc. purchased a new position in Starbucks Corp. during the second quarter valued at $107,000. Valley National Advisers Inc. boosted its position in Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock valued at $118,000 after buying an additional 6 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Starbucks Corp. during the second quarter valued at $123,000. Finally, Proficio Capital Partners LLC boosted its position in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock valued at $128,000 after buying an additional 109 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.28% during trading on Monday, hitting $57.59. The stock had a trading volume of 8,750,925 shares. Starbucks Corp. has a 52 week low of $50.84 and a 52 week high of $62.54. The stock has a market capitalization of $83.82 billion, a price-to-earnings ratio of 30.31 and a beta of 0.77. The firm has a 50 day moving average price of $54.05 and a 200-day moving average price of $55.23.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. Starbucks Corp.’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. On average, equities research analysts forecast that Starbucks Corp. will post $2.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is currently 52.63%.
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Several equities analysts recently weighed in on the stock. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $66.00 target price on shares of Starbucks Corp. in a research note on Sunday, November 6th. BTIG Research set a $64.00 price objective on shares of Starbucks Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Vetr raised shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price objective for the company in a research report on Monday, August 22nd. Piper Jaffray Cos. set a $72.00 price objective on shares of Starbucks Corp. and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $58.00 price objective on shares of Starbucks Corp. in a research report on Friday, August 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.72.
Starbucks Corp. Company Profile
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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