Portside Wealth Group LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 141.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,221 shares of the coffee company's stock after purchasing an additional 21,197 shares during the quarter. Portside Wealth Group LLC's holdings in Starbucks were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the 4th quarter worth about $25,000. Graney & King LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. Collier Financial purchased a new stake in Starbucks during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in Starbucks in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on the company. Citigroup lowered their price target on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus lowered their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and a consensus price target of $97.92.
Check Out Our Latest Stock Report on SBUX
Starbucks Stock Up 3.0%
Shares of SBUX opened at $89.64 on Monday. The business's 50 day moving average is $84.45 and its two-hundred day moving average is $95.14. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $101.87 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, May 16th. Starbucks's payout ratio is 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.
Further Reading
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 - Free Report).
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