LVM Capital Management Ltd. MI cut its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,270 shares of the coffee company's stock after selling 3,020 shares during the period. LVM Capital Management Ltd. MI's holdings in Starbucks were worth $5,029,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter valued at approximately $25,000. Financial Life Planners purchased a new position in Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SBUX has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim cut their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets dropped their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Citigroup cut their price target on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $97.92.
Check Out Our Latest Research Report on SBUX
Starbucks Stock Performance
Shares of NASDAQ:SBUX traded up $1.54 during midday trading on Wednesday, reaching $88.14. 3,920,411 shares of the company's stock were exchanged, compared to its average volume of 11,064,023. The company's 50 day simple moving average is $85.04 and its two-hundred day simple moving average is $95.40. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $100.16 billion, a PE ratio of 28.43, 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 analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.
Starbucks Dividend Announcement
The company also recently announced 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 annualized dividend and a yield of 2.77%. Starbucks's dividend payout ratio (DPR) 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.
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