Private Capital Group LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,969 shares of the coffee company’s stock after purchasing an additional 388 shares during the period. Private Capital Group LLC’s holdings in Starbucks were worth $1,485,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Starbucks by 5,590.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after buying an additional 23,263,399 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Starbucks by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock worth $874,515,000 after buying an additional 100,049 shares during the period. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $807,368,000. Legal & General Group Plc raised its holdings in shares of Starbucks by 1.4% in the fourth quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock worth $421,405,000 after buying an additional 91,187 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $352,796,000. 74.73% of the stock is owned by institutional investors and hedge funds.
SBUX opened at $78.90 on Friday. The firm has a market cap of $94.18 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 2.18 and a beta of 0.51. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $79.24. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $6.31 billion for 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 revenue for the quarter 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 forecast that Starbucks Co. will post 2.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.44 annualized dividend and a yield of 1.83%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
Several brokerages have recently weighed in on SBUX. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a 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 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 report on Wednesday. Citigroup increased their price target on Starbucks from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Stephens raised their price objective on Starbucks from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company 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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