Gladstone Institutional Advisory LLC decreased its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,303 shares of the coffee company’s stock after selling 1,518 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Starbucks were worth $1,698,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Resources Investment Advisors LLC. raised its holdings in Starbucks by 18.8% in the first quarter. Resources Investment Advisors LLC. now owns 16,102 shares of the coffee company’s stock valued at $1,677,000 after acquiring an additional 2,548 shares in the last quarter. BMS Financial Advisors LLC raised its holdings in Starbucks by 4.8% in the first quarter. BMS Financial Advisors LLC now owns 5,108 shares of the coffee company’s stock valued at $532,000 after acquiring an additional 234 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in Starbucks by 23.6% in the first quarter. Aveo Capital Partners LLC now owns 3,618 shares of the coffee company’s stock valued at $377,000 after acquiring an additional 691 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Starbucks by 67.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 402,002 shares of the coffee company’s stock valued at $41,860,000 after acquiring an additional 161,295 shares in the last quarter. Finally, TFB Advisors LLC raised its holdings in Starbucks by 8.5% in the first quarter. TFB Advisors LLC now owns 2,386 shares of the coffee company’s stock valued at $248,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.
Wall Street Analysts Forecast Growth
SBUX has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of Starbucks from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 21st. TD Cowen reissued an “outperform” rating and set a $117.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Stephens reissued an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $104.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on shares of Starbucks in a report on Thursday, August 17th. They set a “buy” rating on the stock. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.70.
Insiders Place Their Bets
In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares in the company, valued at approximately $5,508,956.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.
Starbucks Price Performance
NASDAQ:SBUX opened at $95.28 on Monday. The firm’s fifty day moving average price is $99.32 and its 200 day moving average price is $101.64. Starbucks Co. has a 1-year low of $82.43 and a 1-year high of $115.48. The firm has a market cap of $109.13 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. As a group, analysts expect that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.12 annualized dividend and a dividend yield of 2.23%. Starbucks’s payout ratio is currently 64.63%.
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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