Nicholas Hoffman & Company LLC. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,732 shares of the coffee company’s stock after selling 519 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Starbucks were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bedel Financial Consulting Inc. boosted its position in shares of Starbucks by 14.8% during the first quarter. Bedel Financial Consulting Inc. now owns 2,672 shares of the coffee company’s stock valued at $176,000 after buying an additional 345 shares during the last quarter. Gamble Jones Investment Counsel boosted its position in shares of Starbucks by 8.2% during the first quarter. Gamble Jones Investment Counsel now owns 12,623 shares of the coffee company’s stock valued at $830,000 after buying an additional 960 shares during the last quarter. Toroso Investments LLC boosted its position in shares of Starbucks by 60.9% during the first quarter. Toroso Investments LLC now owns 5,105 shares of the coffee company’s stock valued at $336,000 after buying an additional 1,933 shares during the last quarter. Royal Fund Management LLC purchased a new position in shares of Starbucks during the first quarter valued at approximately $161,000. Finally, HCR Wealth Advisors boosted its position in shares of Starbucks by 4.6% during the first quarter. HCR Wealth Advisors now owns 62,388 shares of the coffee company’s stock valued at $4,101,000 after buying an additional 2,745 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.
In related news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total transaction of $267,833.48. Following the completion of the sale, the director now directly owns 22,728 shares in the company, valued at approximately $1,431,636.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total value 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 over the last quarter. Company insiders own 0.41% of the company’s stock.
NASDAQ SBUX traded down $0.43 during trading on Friday, reaching $77.62. The company’s stock had a trading volume of 7,580,153 shares, compared to its average volume of 11,421,882. The firm has a fifty day moving average of $73.70 and a 200 day moving average of $80.77. Starbucks Co. has a one year low of $50.02 and a one year high of $99.72. The stock has a market capitalization of $91.19 billion, a PE ratio of 27.62, a P/E/G ratio of 4.57 and a beta of 0.80.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Starbucks’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 1.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Thursday, May 7th. Starbucks’s payout ratio is currently 57.95%.
Several research analysts recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, March 6th. Royal Bank of Canada lifted their target price on Starbucks from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citigroup lifted their target price on Starbucks from $82.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. UBS Group boosted their price objective on Starbucks from $73.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Guggenheim reissued a “hold” rating on shares of Starbucks in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have issued a buy rating to the stock. Starbucks presently has a consensus rating of “Hold” and an average price target of $81.77.
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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