Intellectus Partners LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 36.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,618 shares of the coffee company's stock after purchasing an additional 4,180 shares during the period. Intellectus Partners LLC's holdings in Starbucks were worth $1,532,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the fourth quarter worth $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the fourth quarter worth $26,000. Collier Financial acquired a new position in shares of Starbucks during the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. UBS Group cut their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. BMO Capital Markets cut their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Guggenheim cut their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird reissued a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, TD Cowen reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of "Hold" and an average target price of $97.92.
Get Our Latest Stock Analysis on SBUX
Starbucks Stock Down 1.3%
SBUX opened at $86.99 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a 50-day moving average price of $84.63 and a 200 day moving average price of $95.25. The company has a market cap of $98.86 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.
Starbucks Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.80%. Starbucks's payout ratio is 88.41%.
Starbucks Profile
(
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.
Further Reading
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