Monetta Financial Services Inc. Takes Position in Starbucks Co. (NASDAQ:SBUX)

Monetta Financial Services Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the coffee company’s stock, valued at approximately $455,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Starbucks by 10.3% in the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock worth $9,645,766,000 after purchasing an additional 7,672,037 shares during the last quarter. State Street Corp raised its holdings in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock valued at $5,672,559,000 after purchasing an additional 1,649,721 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Starbucks by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company’s stock valued at $2,385,035,000 after purchasing an additional 331,190 shares in the last quarter. Fundsmith LLP grew its stake in Starbucks by 7.7% in the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock valued at $1,354,132,000 after buying an additional 831,723 shares during the last quarter. Finally, Norges Bank acquired a new position in Starbucks in the 4th quarter valued at $1,189,240,000. 69.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, CEO Howard D. Schultz acquired 137,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were acquired at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Howard D. Schultz purchased 137,500 shares of Starbucks stock in a transaction on Tuesday, May 10th. The shares were acquired at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the transaction, the chief executive officer now directly owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Howard D. Schultz acquired 72,500 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $68.85 per share, with a total value of $4,991,625.00. Following the purchase, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at approximately $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.

Starbucks Stock Down 1.3 %

NASDAQ:SBUX traded down $1.15 during trading hours on Friday, hitting $85.73. 4,835,081 shares of the company traded hands, compared to its average volume of 6,349,723. The firm’s 50-day simple moving average is $78.88 and its 200-day simple moving average is $83.14. Starbucks Co. has a one year low of $68.39 and a one year high of $120.76. The company has a market cap of $98.37 billion, a PE ratio of 24.15, a PEG ratio of 2.70 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts expect that Starbucks Co. will post 2.89 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is currently 55.21%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBUX. BMO Capital Markets reduced their price objective on shares of Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Wednesday, May 4th. BTIG Research decreased their price objective on shares of Starbucks from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Cowen reduced their price target on shares of Starbucks from $115.00 to $94.00 in a report on Wednesday, May 4th. Finally, Guggenheim dropped their price target on shares of Starbucks from $95.00 to $87.00 in a research report on Wednesday, April 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.92.

Starbucks Company Profile

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.