Roberts Glore & Co. Inc. IL Boosts Holdings in Starbucks (SBUX)

Roberts Glore & Co. Inc. IL raised its stake in Starbucks (NASDAQ:SBUX) by 98.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,474 shares of the coffee company’s stock after buying an additional 4,199 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Starbucks were worth $491,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Magellan Asset Management Ltd raised its stake in Starbucks by 18.1% during the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock valued at $1,775,321,000 after purchasing an additional 4,744,675 shares during the period. Bank of New York Mellon Corp raised its stake in Starbucks by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock valued at $1,764,739,000 after purchasing an additional 1,210,393 shares during the period. Capital International Investors raised its stake in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares during the period. Geode Capital Management LLC raised its stake in Starbucks by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock valued at $974,952,000 after purchasing an additional 319,533 shares during the period. Finally, Polen Capital Management LLC raised its stake in Starbucks by 1.1% during the 4th quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock valued at $681,882,000 after purchasing an additional 124,676 shares during the period. 74.78% of the stock is currently owned by institutional investors.

SBUX has been the topic of several recent analyst reports. Wedbush reissued a “buy” rating and set a $70.00 target price on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and cut their target price for the company from $73.00 to $68.00 in a research note on Friday, January 26th. BMO Capital Markets boosted their target price on shares of Starbucks to $58.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Starbucks in a research note on Friday, January 26th. Finally, Deutsche Bank reissued a “buy” rating and set a $63.00 target price on shares of Starbucks in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.25.

In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction 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 $1,592,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

Shares of NASDAQ:SBUX opened at $57.16 on Friday. The firm has a market capitalization of $78.88 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 0.83.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. The firm had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. Starbucks’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. equities analysts anticipate that Starbucks will post 2.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, May 9th. Starbucks’s dividend payout ratio is presently 58.25%.

Starbucks announced that its Board of Directors has initiated a share buyback program on Thursday, April 26th that allows the company to repurchase 0 shares. This repurchase authorization allows the coffee company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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