Quinn Opportunity Partners LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,000 shares of the coffee company’s stock, valued at approximately $446,000.
A number of other large investors have also made changes to their positions in the stock. First Merchants Corp lifted its position in Starbucks by 5.1% in the fourth quarter. First Merchants Corp now owns 26,979 shares of the coffee company’s stock valued at $1,737,000 after buying an additional 1,309 shares during the last quarter. PICTET BANK & TRUST Ltd acquired a new position in Starbucks in the fourth quarter valued at about $202,000. Signet Investment Advisory Group Inc. acquired a new position in Starbucks in the fourth quarter valued at about $810,000. Boston Financial Mangement LLC lifted its position in Starbucks by 21.8% in the fourth quarter. Boston Financial Mangement LLC now owns 6,100 shares of the coffee company’s stock valued at $393,000 after buying an additional 1,091 shares during the last quarter. Finally, Tuttle Tactical Management lifted its position in Starbucks by 111.7% in the fourth quarter. Tuttle Tactical Management now owns 55,029 shares of the coffee company’s stock valued at $2,817,000 after buying an additional 29,029 shares during the last quarter. Hedge funds and other institutional investors own 71.67% of the company’s stock.
A number of analysts have issued reports on the stock. Wells Fargo & Co lowered shares of Starbucks from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $83.00 to $80.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of Starbucks from $60.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Wedbush reiterated a “hold” rating and set a $70.00 price target on shares of Starbucks in a research note on Thursday, April 18th. Piper Jaffray Companies boosted their price target on shares of Starbucks from $77.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday. They noted that the move was a valuation call. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target (up from $70.00) on shares of Starbucks in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $74.37.
SBUX stock opened at $82.93 on Thursday. The company has a debt-to-equity ratio of 7.73, a quick ratio of 0.67 and a current ratio of 0.94. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $83.67. The company has a market cap of $99.77 billion, a P/E ratio of 34.27, a PEG ratio of 2.31 and a beta of 0.50.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 2.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 9th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.74%. Starbucks’s payout ratio is 59.50%.
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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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