United Asset Strategies Inc. Raises Position in Starbucks Co. (SBUX)
United Asset Strategies Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,945 shares of the coffee company’s stock after purchasing an additional 1,619 shares during the period. United Asset Strategies Inc.’s holdings in Starbucks were worth $2,896,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Polaris Greystone Financial Group LLC bought a new position in shares of Starbucks during the third quarter valued at $107,000. Archford Capital Strategies LLC raised its stake in shares of Starbucks by 669.7% during the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after acquiring an additional 1,902 shares during the last quarter. Fort L.P. bought a new position in shares of Starbucks during the second quarter valued at $112,000. Point72 Hong Kong Ltd bought a new position in shares of Starbucks during the second quarter valued at $115,000. Finally, RPg Family Wealth Advisory LLC raised its stake in shares of Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after acquiring an additional 1,673 shares during the last quarter. 71.14% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research reaffirmed a “buy” rating and set a $66.00 price target on shares of Starbucks in a research note on Thursday. BidaskClub upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 13th. Citigroup increased their price objective on shares of Starbucks from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, November 12th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Monday, November 12th. Finally, UBS Group cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $64.69.
NASDAQ:SBUX opened at $68.16 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73. The firm has a market capitalization of $91.95 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.91 and a beta of 0.48. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.98.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s payout ratio is 59.50%.
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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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