Nicollet Investment Management Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,222 shares of the coffee company’s stock, valued at approximately $1,736,000. Starbucks makes up approximately 1.4% of Nicollet Investment Management Inc.’s portfolio, making the stock its 27th biggest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Shields Capital Management LLC boosted its stake in shares of Starbucks by 63.8% during the 4th quarter. Wellington Shields Capital Management LLC now owns 13,610 shares of the coffee company’s stock worth $782,000 after acquiring an additional 5,300 shares in the last quarter. Mendel Money Management bought a new stake in shares of Starbucks during the 4th quarter worth $297,000. Hyman Charles D boosted its stake in shares of Starbucks by 2.3% during the 4th quarter. Hyman Charles D now owns 110,153 shares of the coffee company’s stock worth $6,326,000 after acquiring an additional 2,525 shares in the last quarter. Bruderman Asset Management LLC boosted its stake in shares of Starbucks by 4.3% during the 4th quarter. Bruderman Asset Management LLC now owns 59,432 shares of the coffee company’s stock worth $3,413,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Cumberland Partners Ltd boosted its stake in shares of Starbucks by 74.5% during the 4th quarter. Cumberland Partners Ltd now owns 46,905 shares of the coffee company’s stock worth $2,694,000 after acquiring an additional 20,030 shares in the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the transaction, the director now owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $59.37 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The stock has a market capitalization of $83,450.00, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.63 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. analysts predict that Starbucks Co. will post 2.49 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.02%. Starbucks’s dividend payout ratio (DPR) is currently 38.34%.
SBUX has been the subject of several recent analyst reports. Vetr cut Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price for the company. in a research report on Monday, January 8th. Tigress Financial initiated coverage on Starbucks in a research report on Wednesday, December 27th. They issued a “buy” rating for the company. Goldman Sachs Group cut Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their target price for the stock from $73.00 to $68.00 in a research report on Friday, January 26th. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. Finally, Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Thirteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $64.64.
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Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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