Calton & Associates Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the first quarter, HoldingsChannel reports. The firm purchased 4,065 shares of the coffee company’s stock, valued at approximately $302,000.
A number of other large investors also recently made changes to their positions in the business. Parsec Financial Management Inc. grew its position in Starbucks by 12.3% in the first quarter. Parsec Financial Management Inc. now owns 215,805 shares of the coffee company’s stock valued at $16,043,000 after acquiring an additional 23,715 shares during the period. Coastline Trust Co grew its position in Starbucks by 4.8% in the first quarter. Coastline Trust Co now owns 19,745 shares of the coffee company’s stock valued at $1,468,000 after acquiring an additional 900 shares during the period. RFG Advisory LLC grew its position in Starbucks by 129.2% in the first quarter. RFG Advisory LLC now owns 7,595 shares of the coffee company’s stock valued at $565,000 after acquiring an additional 4,282 shares during the period. Willow Creek Wealth Management Inc. grew its position in Starbucks by 6.8% in the first quarter. Willow Creek Wealth Management Inc. now owns 3,456 shares of the coffee company’s stock valued at $257,000 after acquiring an additional 221 shares during the period. Finally, Squar Milner Financial Services LLC grew its position in Starbucks by 9.3% in the first quarter. Squar Milner Financial Services LLC now owns 9,157 shares of the coffee company’s stock valued at $680,000 after acquiring an additional 781 shares during the period. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Shares of SBUX stock opened at $77.76 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73. The firm has a market cap of $93.07 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.15 and a beta of 0.51. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $78.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
A number of analysts have weighed in on the company. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target (up from $70.00) on shares of Starbucks in a research report on Monday, May 6th. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday. Citigroup upped their price target on Starbucks from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Stephens upped their price target on Starbucks from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.88.
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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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