Starbucks Corp. (SBUX) Position Reduced by Tdam USA Inc.
Tdam USA Inc. reduced its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 53.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,996 shares of the coffee company’s stock after selling 38,280 shares during the period. Tdam USA Inc.’s holdings in Starbucks Corp. were worth $1,786,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of Starbucks Corp. during the second quarter worth about $204,254,000. Vontobel Asset Management Inc. boosted its position in shares of Starbucks Corp. by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Starbucks Corp. by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock worth $179,561,000 after buying an additional 2,694,557 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Starbucks Corp. during the second quarter worth about $148,507,000. Finally, Capital World Investors boosted its position in shares of 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 during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 1.01% during midday trading on Tuesday, hitting $58.17. 10,582,850 shares of the company were exchanged. Starbucks Corp. has a one year low of $50.84 and a one year high of $62.54. The stock has a market cap of $84.66 billion, a PE ratio of 30.62 and a beta of 0.77. The stock’s 50-day moving average is $54.16 and its 200-day moving average is $55.22.
Starbucks Corp. (NASDAQ:SBUX) last posted its earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Starbucks Corp. had a net margin of 13.22% and a return on equity of 49.88%. The firm earned $5.71 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. Equities research analysts anticipate that Starbucks Corp. will post $2.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 17th will be issued a dividend of $0.25 per share. This is an increase 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 of this dividend is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is 52.63%.
A number of brokerages have issued reports on SBUX. Piper Jaffray Cos. set a $64.00 target price on shares of Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday. Jefferies Group reissued a “buy” rating and set a $65.00 price objective on shares of Starbucks Corp. in a research note on Wednesday, August 3rd. Wedbush reissued an “outperform” rating and set a $70.00 price objective on shares of Starbucks Corp. in a research note on Tuesday, August 2nd. Robert W. Baird reissued an “outperform” rating on shares of Starbucks Corp. in a research note on Thursday, September 8th. Finally, Vetr cut shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.81 price objective for the company. in a research note on Tuesday, November 22nd. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Starbucks Corp. currently has a consensus rating of “Buy” and a consensus target price of $63.30.
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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