Dorsey & Whitney Trust CO LLC lifted its position in shares of Starbucks (NASDAQ:SBUX) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,863 shares of the coffee company’s stock after purchasing an additional 884 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Starbucks were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Magellan Asset Management Ltd boosted its stake in Starbucks by 18.1% in the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock valued at $1,775,321,000 after buying an additional 4,744,675 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Starbucks by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock valued at $1,764,739,000 after buying an additional 1,210,393 shares in the last quarter. Capital International Investors boosted its stake in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Geode Capital Management LLC boosted its stake in Starbucks by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock valued at $974,952,000 after buying an additional 319,533 shares in the last quarter. Finally, Polen Capital Management LLC boosted its stake in Starbucks by 1.1% in the 4th quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock valued at $681,882,000 after buying an additional 124,676 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.
Several analysts recently commented on SBUX shares. Goldman Sachs lowered Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $73.00 to $68.00 in a research note on Friday, January 26th. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a research note on Friday, January 26th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price target on the stock. in a research note on Wednesday, February 14th. Wedbush reaffirmed a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $63.00 price target on shares of Starbucks in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average target price of $64.25.
In other news, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction 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 sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.
SBUX stock opened at $57.16 on Friday. The firm has a market cap of $78.88 billion, a PE ratio of 25.07, a PEG ratio of 1.64 and a beta of 0.63. Starbucks has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 1.31.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The company 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 firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. equities research analysts predict that Starbucks will post 2.49 earnings per share for the current fiscal 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 payout ratio is currently 58.25%.
Starbucks announced that its board has authorized a share repurchase program on Thursday, April 26th that permits the company to buyback 0 shares. This buyback authorization permits the coffee company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.