Quadrant Private Wealth Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,634 shares of the coffee company’s stock, valued at approximately $239,000.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Starbucks by 4.5% during the first quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock valued at $5,541,310,000 after purchasing an additional 3,614,642 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Starbucks by 12.5% during the fourth quarter. Magellan Asset Management Ltd now owns 32,036,678 shares of the coffee company’s stock valued at $2,816,665,000 after purchasing an additional 3,553,788 shares during the last quarter. Geode Capital Management LLC grew its holdings in Starbucks by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 18,603,871 shares of the coffee company’s stock worth $1,633,457,000 after buying an additional 161,755 shares in the last quarter. FMR LLC grew its holdings in Starbucks by 0.9% in the 4th quarter. FMR LLC now owns 16,406,630 shares of the coffee company’s stock worth $1,442,471,000 after buying an additional 144,675 shares in the last quarter. Finally, Norges Bank bought a new position in Starbucks in the 4th quarter worth approximately $1,092,239,000. 67.70% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on SBUX shares. Stephens decreased their price objective on Starbucks from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Jefferies Financial Group increased their price objective on Starbucks from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Piper Sandler decreased their price objective on Starbucks from $74.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. MKM Partners increased their price objective on Starbucks from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Goldman Sachs Group decreased their price objective on Starbucks from $95.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 6th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $81.77.
In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $74.89, for a total transaction of $318,432.28. Following the transaction, the director now directly owns 22,728 shares of the company’s stock, valued at $1,702,099.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jill Walker sold 2,000 shares of the stock in a transaction on 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 have sold 10,504 shares of company stock worth $726,546 over the last three months. Company insiders own 0.41% of the company’s stock.
Shares of NASDAQ:SBUX traded down $1.47 during midday trading on Friday, hitting $76.58. 1,641,292 shares of the stock were exchanged, compared to its average volume of 11,681,918. Starbucks Co. has a 52-week low of $50.02 and a 52-week high of $99.72. The business’s fifty day simple moving average is $73.45 and its two-hundred day simple moving average is $80.80. The company has a market capitalization of $90.41 billion, a PE ratio of 27.54, a P/E/G ratio of 4.55 and a beta of 0.80.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 28th. The coffee company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. On average, analysts anticipate that Starbucks Co. will post 1.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, May 7th. Starbucks’s payout ratio is 57.95%.
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.
Further Reading: What is the Book Value of a Share?
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