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GAMMA Investing LLC Raises Position in Starbucks Co. (NASDAQ:SBUX)

Starbucks logo with Retail/Wholesale background

GAMMA Investing LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 11,859.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,019,777 shares of the coffee company's stock after acquiring an additional 2,002,889 shares during the period. GAMMA Investing LLC owned about 0.18% of Starbucks worth $198,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the 4th quarter worth about $25,000. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter worth about $25,000. Graney & King LLC purchased a new stake in Starbucks in the 4th quarter valued at about $26,000. Collier Financial purchased a new stake in Starbucks in the 4th quarter valued at about $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SBUX shares. TD Cowen reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and an average target price of $97.92.

Read Our Latest Report on SBUX

Starbucks Trading Down 1.3%

Shares of Starbucks stock traded down $1.12 on Thursday, hitting $86.99. 8,474,149 shares of the company traded hands, compared to its average volume of 11,066,325. The firm's 50-day simple moving average is $84.63 and its 200 day simple moving average is $95.25. The company has a market cap of $98.86 billion, a P/E ratio of 28.06, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, May 16th. Starbucks's payout ratio is presently 88.41%.

About Starbucks

(Free Report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

See Also

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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