M Holdings Securities Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 33.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 21,089 shares of the coffee company’s stock after acquiring an additional 5,318 shares during the quarter. M Holdings Securities Inc.’s holdings in Starbucks were worth $1,386,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Starbucks in the fourth quarter valued at about $1,092,239,000. BlackRock Inc. raised its holdings in Starbucks by 4.5% in the 1st quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock valued at $5,541,310,000 after acquiring an additional 3,614,642 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of Starbucks by 12.5% in the 4th quarter. Magellan Asset Management Ltd now owns 32,036,678 shares of the coffee company’s stock worth $2,816,665,000 after acquiring an additional 3,553,788 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Starbucks by 36,849.9% during the 1st quarter. Fisher Asset Management LLC now owns 3,261,937 shares of the coffee company’s stock worth $214,440,000 after purchasing an additional 3,253,109 shares in the last quarter. Finally, Vontobel Asset Management Inc. increased its position in shares of Starbucks by 216.1% during the first quarter. Vontobel Asset Management Inc. now owns 2,584,459 shares of the coffee company’s stock valued at $182,705,000 after purchasing an additional 1,766,835 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.
In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total value of $267,833.48. Following the sale, the director now owns 22,728 shares of the company’s stock, valued at approximately $1,431,636.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of Starbucks 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 have sold a total of 10,504 shares of company stock worth $726,546 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.
SBUX has been the subject of several research reports. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, March 6th. Bank of America cut shares of Starbucks from a “buy” rating to a “neutral” rating and upped their target price for the company from $68.00 to $73.00 in a research note on Thursday, April 9th. Goldman Sachs Group cut their price target on shares of Starbucks from $95.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Wedbush upped their price objective on Starbucks from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, KeyCorp raised their target price on Starbucks from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.77.
Shares of SBUX stock traded down $1.15 on Tuesday, hitting $77.17. The stock had a trading volume of 2,766,271 shares, compared to its average volume of 9,535,118. Starbucks Co. has a twelve month low of $50.02 and a twelve month high of $99.72. The company has a fifty day moving average price of $75.83 and a two-hundred day moving average price of $80.55. The firm has a market cap of $91.12 billion, a P/E ratio of 27.87, a PEG ratio of 4.53 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last posted its earnings results 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). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts expect that Starbucks Co. will post 1.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.64 dividend on an annualized basis and a yield of 2.13%. Starbucks’s payout ratio is 57.95%.
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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