Flagship Harbor Advisors LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,732 shares of the coffee company’s stock after purchasing an additional 225 shares during the period. Flagship Harbor Advisors LLC’s holdings in Starbucks were worth $426,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Orrstown Financial Services Inc. increased its holdings in Starbucks by 1.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock worth $955,000 after purchasing an additional 147 shares during the period. Gardiner Nancy B increased its holdings in Starbucks by 2.8% during the 4th quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock worth $367,000 after purchasing an additional 156 shares during the period. Kistler Tiffany Companies LLC increased its holdings in Starbucks by 1.8% during the 4th quarter. Kistler Tiffany Companies LLC now owns 9,319 shares of the coffee company’s stock worth $600,000 after purchasing an additional 162 shares during the period. Old North State Trust LLC increased its holdings in Starbucks by 20.6% during the 1st quarter. Old North State Trust LLC now owns 991 shares of the coffee company’s stock worth $73,000 after purchasing an additional 169 shares during the period. Finally, Tiemann Investment Advisors LLC increased its holdings in Starbucks by 3.5% during the 4th quarter. Tiemann Investment Advisors LLC now owns 5,160 shares of the coffee company’s stock worth $332,000 after purchasing an additional 175 shares during the period. 74.73% of the stock is owned by institutional investors and hedge funds.
In other Starbucks news, insider John Culver sold 63,937 shares of Starbucks stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.98% of the stock is owned by company insiders.
Shares of Starbucks stock traded down $0.28 during trading on Wednesday, reaching $77.25. The company’s stock had a trading volume of 5,070,068 shares, compared to its average volume of 9,629,667. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67. The stock has a market capitalization of $93.57 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.21 and a beta of 0.51. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $79.65.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be given a $0.36 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.86%. Starbucks’s payout ratio is 59.50%.
Several research firms have commented on SBUX. Wells Fargo & Co downgraded Starbucks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $83.00 to $80.00 in a report on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Starbucks from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wedbush reaffirmed a “hold” rating and set a $70.00 target price on shares of Starbucks in a research report on Thursday, April 18th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price (up previously from $70.00) on shares of Starbucks in a research report on Friday, January 25th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.88.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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