L & S Advisors Inc raised its position in Starbucks Co. (NASDAQ:SBUX) by 367.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,201 shares of the coffee company’s stock after buying an additional 19,806 shares during the period. L & S Advisors Inc’s holdings in Starbucks were worth $2,216,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Regal Wealth Group Inc. raised its stake in Starbucks by 210.7% during the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock worth $28,000 after acquiring an additional 217 shares during the period. Sound Income Strategies LLC raised its stake in Starbucks by 209.0% during the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after acquiring an additional 232 shares during the period. Tobias Financial Advisors Inc. acquired a new stake in Starbucks during the fourth quarter worth about $31,000. Solstein Capital LLC acquired a new stake in Starbucks during the fourth quarter worth about $32,000. Finally, Shine Investment Advisory Services Inc. raised its stake in Starbucks by 63.0% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock worth $33,000 after acquiring an additional 143 shares during the period. 69.29% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on SBUX shares. Robert W. Baird dropped their price objective on shares of Starbucks from $94.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Morgan Stanley dropped their price objective on shares of Starbucks from $95.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. upgraded shares of Starbucks to a “buy” rating and set a $94.00 price objective on the stock in a research note on Tuesday, January 7th. Goldman Sachs Group lowered their price objective on shares of Starbucks from $95.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, Barclays upgraded shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 target price for the company in a report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $89.76.
In other news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $88.12, for a total transaction of $374,686.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lucy Lee Helm sold 18,982 shares of Starbucks stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The disclosure for this sale can be found here. Insiders sold a total of 25,234 shares of company stock worth $2,194,683 over the last 90 days. Company insiders own 0.41% of the company’s stock.
Shares of SBUX opened at $68.30 on Thursday. The company has a market capitalization of $87.87 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58. Starbucks Co. has a one year low of $67.40 and a one year high of $99.72. The company’s fifty day moving average price is $85.14 and its 200 day moving average price is $87.31.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.11 billion. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 2.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Thursday, February 6th were given a $0.41 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $1.64 annualized dividend and a yield of 2.40%. Starbucks’s dividend payout ratio is 57.95%.
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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