Nvwm LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9,041.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,313 shares of the coffee company’s stock after buying an additional 7,233 shares during the period. Nvwm LLC’s holdings in Starbucks were worth $481,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Capital Wealth Alliance LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $25,000. RMR Wealth Builders purchased a new position in Starbucks in the fourth quarter valued at about $26,000. Tobias Financial Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at about $31,000. Solstein Capital LLC purchased a new position in Starbucks in the fourth quarter valued at about $32,000. Finally, AlphaCore Capital LLC purchased a new position in Starbucks in the first quarter valued at about $32,000. 67.70% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on SBUX shares. Stephens dropped their price target on shares of Starbucks from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Jefferies Financial Group upped their price target on shares of Starbucks from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Bank of America cut shares of Starbucks from a “buy” rating to a “neutral” rating and upped their price target for the company from $68.00 to $73.00 in a research note on Thursday, April 9th. Argus dropped their price target on shares of Starbucks from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Starbucks from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have issued a buy rating to the company. Starbucks currently has an average rating of “Hold” and an average price target of $81.77.
Shares of NASDAQ:SBUX traded down $1.47 during trading on Friday, reaching $76.58. The company had a trading volume of 1,641,292 shares, compared to its average volume of 11,681,918. The company has a fifty day moving average of $73.45 and a two-hundred day moving average of $80.80. The stock has a market capitalization of $90.41 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 4.55 and a beta of 0.80. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.85 billion. Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. Starbucks’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. As a group, equities research analysts predict that Starbucks Co. will post 1.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, May 7th. Starbucks’s payout ratio is 57.95%.
In other news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $74.89, for a total value of $318,432.28. Following the completion of the sale, the director now directly owns 22,728 shares of the company’s stock, valued at approximately $1,702,099.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $70.14, for a total transaction of $140,280.00. The disclosure for this sale can be found here. Insiders sold a total of 10,504 shares of company stock valued at $726,546 in the last ninety days. 0.41% of the stock is owned by corporate insiders.
Starbucks Company 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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