Fishman Jay A Ltd. MI lessened its holdings in Starbucks (NASDAQ:SBUX) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,261 shares of the coffee company’s stock after selling 9,550 shares during the period. Starbucks makes up approximately 1.9% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 17th biggest holding. Fishman Jay A Ltd. MI’s holdings in Starbucks were worth $10,204,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Magellan Asset Management Ltd lifted its stake in Starbucks by 18.1% in the fourth quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock valued at $1,775,321,000 after purchasing an additional 4,744,675 shares during the last quarter. Capital International Investors raised its holdings in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the period. Harding Loevner LP bought a new stake in Starbucks during the 3rd quarter valued at $128,044,000. Lazard Asset Management LLC raised its holdings in Starbucks by 300.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,051,366 shares of the coffee company’s stock valued at $232,669,000 after acquiring an additional 3,040,030 shares during the period. Finally, Atlantic Trust Group LLC raised its holdings in 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 valued at $131,068,000 after acquiring an additional 2,258,828 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.
In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by insiders.
Shares of Starbucks opened at $57.16 on Friday, Marketbeat Ratings reports. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87. The firm has a market capitalization of $78.88 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.64 and a beta of 0.63. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 1.31.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that Starbucks will post 2.49 EPS for the current year.
Starbucks declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 26th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the coffee company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 annualized dividend and a yield of 2.10%. Starbucks’s dividend payout ratio (DPR) is presently 58.25%.
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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