Pillar Pacific Capital Management LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,572 shares of the coffee company’s stock after buying an additional 1,047 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Starbucks were worth $7,764,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. AMG National Trust Bank acquired a new position in shares of Starbucks during the 3rd quarter valued at $293,000. MAI Capital Management lifted its position in shares of Starbucks by 4.8% during the 3rd quarter. MAI Capital Management now owns 154,263 shares of the coffee company’s stock valued at $13,254,000 after acquiring an additional 7,095 shares during the period. Prestige Wealth Management Group LLC lifted its position in shares of Starbucks by 9.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,361 shares of the coffee company’s stock valued at $461,000 after acquiring an additional 456 shares during the period. Confluence Wealth Management LLC lifted its position in shares of Starbucks by 4.0% during the 3rd quarter. Confluence Wealth Management LLC now owns 20,877 shares of the coffee company’s stock valued at $1,846,000 after acquiring an additional 801 shares during the period. Finally, Perennial Investment Advisors LLC lifted its position in shares of Starbucks by 111.0% during the 3rd quarter. Perennial Investment Advisors LLC now owns 8,567 shares of the coffee company’s stock valued at $735,000 after acquiring an additional 4,507 shares during the period. 67.27% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Joshua Cooper Ramo sold 2,925 shares of the firm’s stock in a transaction that occurred on Wednesday, November 25th. The shares were sold at an average price of $98.28, for a total value of $287,469.00. Following the sale, the director now directly owns 25,200 shares of the company’s stock, valued at $2,476,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.
Shares of Starbucks stock traded down $0.56 on Tuesday, reaching $101.25. The stock had a trading volume of 422,898 shares, compared to its average volume of 5,894,419. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $107.75. The company has a market cap of $119.20 billion, a P/E ratio of 132.22, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The business’s 50 day moving average is $103.43 and its two-hundred day moving average is $94.14.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Monday, January 25th. The coffee company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.92 billion. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, research analysts forecast that Starbucks Co. will post 2.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 5th. Investors of record on Thursday, February 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, February 17th. Starbucks’s dividend payout ratio is currently 153.85%.
Several research analysts have weighed in on SBUX shares. Wells Fargo & Company upped their price objective on shares of Starbucks from $116.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Citigroup upped their price objective on shares of Starbucks from $111.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Credit Suisse Group upped their price objective on shares of Starbucks from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, January 27th. Barclays upped their price objective on shares of Starbucks from $122.00 to $125.00 in a report on Wednesday, January 27th. Finally, Stephens upped their price objective on shares of Starbucks from $86.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, December 10th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $102.26.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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