Strategic Wealth Advisors Group LLC grew its holdings in shares of Starbucks (NASDAQ:SBUX) by 112.1% in the 1st quarter, Holdings Channel reports. The firm owned 62,454 shares of the coffee company’s stock after purchasing an additional 33,002 shares during the quarter. Strategic Wealth Advisors Group LLC’s holdings in Starbucks were worth $3,615,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ING Groep NV purchased a new stake in Starbucks in the 1st quarter worth approximately $1,233,000. MUFG Americas Holdings Corp increased its holdings in Starbucks by 2.6% in the 1st quarter. MUFG Americas Holdings Corp now owns 269,657 shares of the coffee company’s stock worth $15,611,000 after acquiring an additional 6,806 shares in the last quarter. Madrona Financial Services LLC increased its holdings in Starbucks by 38.1% in the 1st quarter. Madrona Financial Services LLC now owns 9,780 shares of the coffee company’s stock worth $566,000 after acquiring an additional 2,700 shares in the last quarter. Weatherly Asset Management L. P. increased its holdings in Starbucks by 1.1% in the 1st quarter. Weatherly Asset Management L. P. now owns 161,370 shares of the coffee company’s stock worth $9,342,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in Starbucks by 1.9% in the 1st quarter. Eaton Vance Management now owns 5,210,088 shares of the coffee company’s stock worth $301,612,000 after acquiring an additional 95,745 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Wedbush reissued a “buy” rating and issued a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating and issued a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price (up from $66.00) on shares of Starbucks in a report on Friday, January 19th. Goldman Sachs lowered shares of Starbucks from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $73.00 to $68.00 in a report on Friday, January 26th. Finally, Cowen lowered shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $68.00 to $65.00 in a report on Friday, April 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.25.
In other news, Director Craig Weatherup sold 59,838 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
NASDAQ SBUX opened at $57.16 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 1.31. The company has a market cap of $78.94 billion, a PE ratio of 27.75, a PEG ratio of 1.64 and a beta of 0.63. Starbucks has a one year low of $52.58 and a one year high of $64.87.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 26th. The coffee company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. sell-side analysts expect that Starbucks will post 2.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks’s dividend payout ratio is currently 58.25%.
Starbucks declared that its board has approved a share repurchase plan on Thursday, April 26th that permits the company to buyback 0 shares. This buyback authorization permits the coffee company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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