Unigestion Holding SA Purchases New Stake in Starbucks Co. (NASDAQ:SBUX)
Unigestion Holding SA bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 45,500 shares of the coffee company’s stock, valued at approximately $2,223,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Bedel Financial Consulting Inc. bought a new position in shares of Starbucks during the first quarter valued at about $104,000. Prime Capital Investment Advisors LLC purchased a new stake in Starbucks in the fourth quarter worth about $113,000. Transamerica Financial Advisors Inc. purchased a new stake in Starbucks in the first quarter worth about $118,000. Trilogy Capital Inc. purchased a new stake in Starbucks in the first quarter worth about $135,000. Finally, Guidant Wealth Advisors lifted its holdings in Starbucks by 2,070.6% in the second quarter. Guidant Wealth Advisors now owns 8,921 shares of the coffee company’s stock worth $144,000 after buying an additional 8,510 shares during the period. 71.88% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. ValuEngine upgraded shares of Starbucks from a “strong sell” rating to a “sell” rating in a report on Saturday, July 14th. BMO Capital Markets lowered their target price on shares of Starbucks from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Wednesday, June 20th. Wedbush lowered their target price on shares of Starbucks from $58.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, June 20th. Telsey Advisory Group reduced their price target on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, July 17th. Finally, Stephens cut their target price on shares of Starbucks from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.75.
Starbucks traded down $0.41, reaching $51.51, during trading hours on Friday, according to MarketBeat. The company’s stock had a trading volume of 10,510,191 shares, compared to its average volume of 11,350,983. The stock has a market cap of $70.05 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.54 and a beta of 0.63. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. research analysts expect that Starbucks Co. will post 2.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Thursday, August 9th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Starbucks’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 8th. Starbucks’s dividend payout ratio is 69.90%.
Starbucks declared that its Board of Directors has authorized a stock buyback program on Thursday, April 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the coffee company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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