Blue Chip Wealth Management Inc. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the first quarter, Holdings Channel reports. The firm acquired 5,114 shares of the coffee company’s stock, valued at approximately $296,000.
A number of other large investors also recently made changes to their positions in SBUX. Gofen & Glossberg LLC IL raised its stake in Starbucks by 0.4% during the fourth quarter. Gofen & Glossberg LLC IL now owns 519,713 shares of the coffee company’s stock valued at $29,847,000 after buying an additional 2,004 shares during the last quarter. Norway Savings Bank raised its stake in shares of Starbucks by 14.8% in the fourth quarter. Norway Savings Bank now owns 7,805 shares of the coffee company’s stock worth $448,000 after purchasing an additional 1,005 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Starbucks in the fourth quarter worth $218,000. Wendell David Associates Inc. raised its stake in shares of Starbucks by 1.3% in the fourth quarter. Wendell David Associates Inc. now owns 98,804 shares of the coffee company’s stock worth $5,674,000 after purchasing an additional 1,300 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Starbucks by 1,800.2% in the fourth quarter. CWM LLC now owns 104,264 shares of the coffee company’s stock worth $5,988,000 after purchasing an additional 98,777 shares during the last quarter. Institutional investors and hedge funds own 72.18% of the company’s stock.
NASDAQ:SBUX opened at $57.11 on Friday. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $61.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 0.83. The stock has a market cap of $77.57 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.61 and a beta of 0.61.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Starbucks’s revenue for the quarter was up 13.9% on a year-over-year basis. equities research analysts predict that Starbucks Co. will post 2.49 EPS for the current year.
Starbucks announced that its board has initiated a stock buyback plan on Thursday, April 26th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the coffee company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Thursday, May 10th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.10%. The ex-dividend date was Wednesday, May 9th. Starbucks’s dividend payout ratio is presently 58.25%.
Several research analysts have recently weighed in on the company. UBS Group set a $66.00 price target on Starbucks and gave the stock a “buy” rating in a research note on Monday, May 21st. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Wedbush cut Starbucks from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $56.00 in a research note on Thursday, March 29th. Zacks Investment Research cut Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Cowen cut Starbucks from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $68.00 to $65.00 in a research note on Friday, April 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating to the stock. Starbucks has a consensus rating of “Buy” and a consensus price target of $64.12.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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