KBC Group NV Boosts Position in Starbucks Corp. (SBUX)
KBC Group NV boosted its position in Starbucks Corp. (NASDAQ:SBUX) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. CAM Group Holding A S purchased a new stake in Starbucks Corp. during the third quarter worth $3,548,000. Diversified Trust Co raised its stake in Starbucks Corp. by 10.6% in the third quarter. Diversified Trust Co now owns 12,799 shares of the coffee company’s stock worth $693,000 after buying an additional 1,230 shares during the period. First National Trust Co. raised its stake in Starbucks Corp. by 0.9% in the third quarter. First National Trust Co. now owns 11,333 shares of the coffee company’s stock worth $613,000 after buying an additional 104 shares during the period. Bank of Hawaii raised its stake in Starbucks Corp. by 0.8% in the third quarter. Bank of Hawaii now owns 59,370 shares of the coffee company’s stock worth $3,214,000 after buying an additional 472 shares during the period. Finally, RMB Capital Management LLC raised its stake in Starbucks Corp. by 433.8% in the third quarter. RMB Capital Management LLC now owns 48,974 shares of the coffee company’s stock worth $2,651,000 after buying an additional 39,800 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during trading on Wednesday, hitting $58.01. 4,342,446 shares of the company were exchanged. The firm’s 50 day moving average price is $54.16 and its 200-day moving average price is $55.22. Starbucks Corp. has a 1-year low of $50.84 and a 1-year high of $62.54. The stock has a market capitalization of $84.43 billion, a PE ratio of 30.53 and a beta of 0.77.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. The business earned $5.71 billion during the quarter, compared to the consensus estimate of $5.68 billion. Starbucks Corp. had a net margin of 13.22% and a return on equity of 49.88%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Equities analysts predict that Starbucks Corp. will post $2.14 EPS for the current year.
The company 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 $0.25 dividend. The ex-dividend date is Tuesday, November 15th. This is an increase from Starbucks Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Starbucks Corp.’s payout ratio is currently 52.63%.
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A number of equities analysts have recently commented on SBUX shares. Wedbush reissued an “outperform” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating and issued a $65.00 price target on shares of Starbucks Corp. in a report on Wednesday, August 3rd. Vetr raised shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $62.13 price target on the stock in a report on Thursday, August 4th. Credit Suisse Group AG reissued a “neutral” rating and issued a $58.00 price target on shares of Starbucks Corp. in a report on Friday, August 5th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $68.00 price target 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 given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus 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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