Aldebaran Financial Inc. Reduces Position in Starbucks Co. (SBUX)
Aldebaran Financial Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,585 shares of the coffee company’s stock after selling 2,972 shares during the period. Aldebaran Financial Inc.’s holdings in Starbucks were worth $1,682,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Polaris Greystone Financial Group LLC purchased a new position in Starbucks in the third quarter worth about $107,000. Archford Capital Strategies LLC raised its holdings in Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after buying an additional 1,902 shares during the last quarter. Fort L.P. purchased a new position in Starbucks in the second quarter worth about $112,000. Point72 Hong Kong Ltd purchased a new position in Starbucks in the second quarter worth about $115,000. Finally, RPg Family Wealth Advisory LLC raised its holdings in Starbucks by 155.6% in the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after buying an additional 1,673 shares during the last quarter. 71.14% of the stock is currently owned by institutional investors and hedge funds.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the sale, the director now directly owns 29,000 shares of the company’s stock, valued at $1,596,450. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by corporate insiders.
Shares of SBUX stock opened at $67.18 on Wednesday. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.98. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a yield of 2.14%. Starbucks’s dividend payout ratio is currently 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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