Blair William & Co. IL increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,963,241 shares of the coffee company’s stock after acquiring an additional 176,670 shares during the quarter. Starbucks comprises approximately 1.2% of Blair William & Co. IL’s investment portfolio, making the stock its 15th largest holding. Blair William & Co. IL’s holdings in Starbucks were worth $194,803,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in SBUX. Norges Bank acquired a new position in shares of Starbucks in the fourth quarter worth about $1,092,239,000. BlackRock Inc. lifted its stake in shares of Starbucks by 4.5% in the first quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock worth $5,541,310,000 after acquiring an additional 3,614,642 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in shares of Starbucks by 12.5% in the fourth quarter. Magellan Asset Management Ltd now owns 32,036,678 shares of the coffee company’s stock worth $2,816,665,000 after acquiring an additional 3,553,788 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Starbucks by 36,849.9% in the first quarter. Fisher Asset Management LLC now owns 3,261,937 shares of the coffee company’s stock worth $214,440,000 after acquiring an additional 3,253,109 shares in the last quarter. Finally, Vontobel Asset Management Inc. lifted its stake in shares of Starbucks by 216.1% in the first quarter. Vontobel Asset Management Inc. now owns 2,584,459 shares of the coffee company’s stock worth $182,705,000 after acquiring an additional 1,766,835 shares in the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.
Several analysts have issued reports on the company. BidaskClub upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Citigroup upped their price objective on Starbucks from $82.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. BMO Capital Markets restated a “market perform” rating and set a $85.00 price objective on shares of Starbucks in a research note on Wednesday, January 29th. Oppenheimer cut their price objective on Starbucks from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Finally, Argus cut their price objective on Starbucks from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.77.
Shares of NASDAQ:SBUX traded down $0.43 during midday trading on Friday, hitting $77.62. The company’s stock had a trading volume of 7,580,153 shares, compared to its average volume of 11,421,882. The stock has a market capitalization of $91.19 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.57 and a beta of 0.80. The stock’s 50 day simple moving average is $73.70 and its 200 day simple moving average is $80.77. Starbucks Co. has a fifty-two week low of $50.02 and a fifty-two week high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 1.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, May 7th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
In related news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $70.14, for a total transaction of $140,280.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $74.89, for a total value of $318,432.28. Following the sale, the director now directly owns 22,728 shares in the company, valued at $1,702,099.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,504 shares of company stock worth $726,546. 0.41% of the stock is owned by company insiders.
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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