QCI Asset Management Inc. NY raised its position in Starbucks (NASDAQ:SBUX) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 233,027 shares of the coffee company’s stock after acquiring an additional 5,325 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Starbucks were worth $13,490,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of SBUX. Magellan Asset Management Ltd lifted its position in shares of Starbucks by 18.1% during the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after buying an additional 4,744,675 shares during the last quarter. Capital International Investors lifted its position in shares of Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares during the last quarter. Harding Loevner LP purchased a new stake in shares of Starbucks during the 3rd quarter worth approximately $128,044,000. Lazard Asset Management LLC lifted its position in shares of Starbucks by 300.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,051,366 shares of the coffee company’s stock worth $232,669,000 after buying an additional 3,040,030 shares during the last quarter. Finally, Atlantic Trust Group LLC lifted its position in shares of Starbucks by 1,244.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 2,440,293 shares of the coffee company’s stock worth $131,068,000 after buying an additional 2,258,828 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer reiterated a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research report on Friday, January 19th. Wedbush reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a research report on Friday, January 19th. Finally, William Blair reiterated an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average price target of $64.25.
Starbucks traded up $0.07, hitting $57.27, during trading on Friday, according to MarketBeat.com. The stock had a trading volume of 2,885,373 shares, compared to its average volume of 9,772,606. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a twelve month low of $56.77 and a twelve month high of $57.32. The stock has a market capitalization of $78.87 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.64 and a beta of 0.63.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The business had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts predict that Starbucks will post 2.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks’s dividend payout ratio (DPR) is presently 58.25%.
Starbucks declared that its board has authorized a share buyback program on Thursday, April 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the coffee company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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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