Dillon & Associates Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 0.1% during the 1st quarter, Holdings Channel reports. The firm owned 109,973 shares of the coffee company’s stock after purchasing an additional 130 shares during the period. Starbucks comprises about 2.6% of Dillon & Associates Inc.’s portfolio, making the stock its 12th biggest holding. Dillon & Associates Inc.’s holdings in Starbucks were worth $8,138,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Lake Point Wealth Management bought a new stake in Starbucks during the 4th quarter valued at $25,000. Cowen Prime Services LLC bought a new stake in Starbucks during the 1st quarter valued at $26,000. Veritas Investment Management LLP bought a new stake in Starbucks during the 4th quarter valued at $28,000. Paragon Capital Management LLC bought a new stake in Starbucks during the 1st quarter valued at $29,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Starbucks during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 71.67% of the company’s stock.
SBUX has been the topic of a number of analyst reports. BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. UBS Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and boosted their target price for the company from $72.00 to $78.00 in a report on Monday, April 8th. Piper Jaffray Companies boosted their target price on shares of Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Wedbush reissued a “hold” rating and set a $70.00 target price on shares of Starbucks in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.37.
Starbucks stock opened at $83.35 on Friday. The firm has a market capitalization of $100.95 billion, a PE ratio of 34.44, a PEG ratio of 2.31 and a beta of 0.50. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $84.05. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 9th were issued a $0.36 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.44 annualized dividend and a dividend yield of 1.73%. Starbucks’s payout ratio is currently 59.50%.
In related news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lucy Lee Helm sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total value of $830,000.00. Following the completion of the transaction, the executive vice president now directly owns 113,455 shares in the company, valued at approximately $9,416,765. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,910 shares of company stock worth $6,578,788. Insiders own 3.98% of the company’s stock.
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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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