Starbucks Co. (SBUX) Position Lowered by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,085 shares of the coffee company’s stock after selling 504 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Starbucks were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Polaris Greystone Financial Group LLC bought a new position in shares of Starbucks during the third quarter valued at approximately $107,000. Archford Capital Strategies LLC raised its holdings 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 in the last quarter. Fort L.P. purchased a new stake in Starbucks in the second quarter worth $112,000. Point72 Hong Kong Ltd purchased a new stake in Starbucks in the second quarter worth $115,000. Finally, Resources Management Corp CT ADV purchased a new stake in Starbucks in the third quarter worth $134,000. Institutional investors own 76.07% of the company’s stock.
In other news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.
NASDAQ SBUX opened at $65.47 on Friday. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $68.98. The firm has a market capitalization of $82.56 billion, a PE ratio of 27.05, a P/E/G ratio of 1.86 and a beta of 0.52. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20.
Starbucks (NASDAQ:SBUX) last released its 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. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities analysts anticipate that Starbucks Co. will post 2.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s dividend payout ratio is currently 59.50%.
COPYRIGHT VIOLATION WARNING: “Starbucks Co. (SBUX) Position Lowered by Rehmann Capital Advisory Group” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.dailypolitical.com/2018/12/08/starbucks-co-sbux-position-lowered-by-rehmann-capital-advisory-group.html.
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.
Featured Article: Buyback For Investors Defined
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.