MV Capital Management Inc. lifted its holdings in Starbucks (NASDAQ:SBUX) by 46.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,980 shares of the coffee company’s stock after purchasing an additional 2,847 shares during the quarter. MV Capital Management Inc.’s holdings in Starbucks were worth $520,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SBUX. Haverford Trust Co. lifted its position in Starbucks by 2.7% in the first quarter. Haverford Trust Co. now owns 956,911 shares of the coffee company’s stock worth $55,396,000 after buying an additional 25,366 shares during the last quarter. 6 Meridian bought a new stake in Starbucks in the first quarter worth $477,000. ProVise Management Group LLC lifted its position in Starbucks by 32.4% in the first quarter. ProVise Management Group LLC now owns 40,869 shares of the coffee company’s stock worth $2,366,000 after buying an additional 9,990 shares during the last quarter. Twin Tree Management LP lifted its position in Starbucks by 104.7% in the first quarter. Twin Tree Management LP now owns 16,993 shares of the coffee company’s stock worth $984,000 after buying an additional 380,941 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Starbucks by 14.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 207,010 shares of the coffee company’s stock worth $11,984,000 after buying an additional 25,534 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the transaction, the director now owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
Shares of Starbucks stock opened at $57.49 on Thursday. The firm has a market cap of $78.60 billion, a PE ratio of 27.91, a PEG ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.93 billion. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. sell-side analysts predict that Starbucks will post 2.49 earnings per share for the current year.
Starbucks declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 26th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the coffee company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. Starbucks’s dividend payout ratio is currently 58.25%.
A number of analysts recently issued reports on the company. UBS set a $66.00 price target on Starbucks and gave the stock a “buy” rating in a research report on Monday. ValuEngine downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Wedbush restated a “hold” rating and issued a $58.00 price target on shares of Starbucks in a research report on Friday, April 27th. Oppenheimer restated an “outperform” rating on shares of Starbucks in a research report on Friday, April 27th. Finally, BidaskClub downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Saturday, May 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $64.25.
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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