MainStreet Investment Advisors LLC Buys 6,136 Shares of Starbucks Co. (NASDAQ:SBUX)
MainStreet Investment Advisors LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% during the second quarter, Holdings Channel.com reports. The fund owned 143,949 shares of the coffee company’s stock after acquiring an additional 6,136 shares during the period. Starbucks comprises 1.6% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 14th largest position. MainStreet Investment Advisors LLC’s holdings in Starbucks were worth $12,067,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter worth $807,368,000. FMR LLC grew its position in Starbucks by 19.8% during the 1st quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after acquiring an additional 1,720,231 shares during the last quarter. Legal & General Group Plc grew its position in Starbucks by 1.4% during the 4th quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock worth $421,405,000 after acquiring an additional 91,187 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Starbucks during the 4th quarter worth $352,796,000. Finally, Dimensional Fund Advisors LP grew its position in Starbucks by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock worth $264,063,000 after acquiring an additional 20,719 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.
A number of equities research analysts recently weighed in on SBUX shares. Stephens reduced their price objective on O’Reilly Automotive from $440.00 to $430.00 and set an “overweight” rating on the stock in a research report on Friday. OTR Global lowered Check Point Software Technologies to a “positive” rating in a research report on Tuesday, July 16th. Cowen set a $1,500.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley set a $112.00 price objective on Tractor Supply and gave the stock a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $89.53.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a negative return on equity of 154.96% and a net margin of 13.63%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts expect that Starbucks Co. will post 2.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s dividend payout ratio is 59.50%.
In other news, EVP Lucy Lee Helm sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $83.00, for a total value of $830,000.00. Following the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at approximately $9,416,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. Insiders sold a total of 93,883 shares of company stock worth $7,422,903 over the last three months. 3.98% of the stock is owned by company insiders.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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