Alley Co LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 39.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,698 shares of the coffee company’s stock after purchasing an additional 24,568 shares during the quarter. Starbucks accounts for about 1.7% of Alley Co LLC’s portfolio, making the stock its 24th largest position. Alley Co LLC’s holdings in Starbucks were worth $4,979,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ken Stern & Associates Inc. increased its stake in Starbucks by 0.4% in the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after buying an additional 23 shares during the period. Risk Paradigm Group LLC increased its stake in Starbucks by 0.7% in the 2nd quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock worth $436,000 after buying an additional 50 shares during the period. South Texas Money Management Ltd. increased its stake in Starbucks by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 23,826 shares of the coffee company’s stock worth $1,389,000 after buying an additional 75 shares during the period. Optimum Investment Advisors increased its stake in Starbucks by 0.4% in the 2nd quarter. Optimum Investment Advisors now owns 22,765 shares of the coffee company’s stock worth $1,327,000 after buying an additional 84 shares during the period. Finally, Green Square Capital LLC increased its stake in Starbucks by 1.0% in the 2nd quarter. Green Square Capital LLC now owns 9,780 shares of the coffee company’s stock worth $570,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.
Several research firms recently commented on SBUX. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. UBS set a $66.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Thursday, March 15th. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price target on the stock. in a research note on Monday, March 12th. BidaskClub raised shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, BMO Capital Markets raised their target price on shares of Starbucks to $58.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.63.
SBUX stock opened at $58.66 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The stock has a market cap of $82,930.40, a P/E ratio of 19.36, a PEG ratio of 1.63 and a beta of 0.66.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. research analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Wednesday, February 7th. Starbucks’s payout ratio is currently 39.60%.
In related news, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction that occurred on 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 completion of the sale, the director now owns 39,000 shares of the company’s stock, valued at $2,126,280. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,664 shares of company stock worth $14,243,602. Insiders own 3.48% of the company’s stock.
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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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