Duncker Streett & Co. Inc. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,040 shares of the coffee company’s stock after buying an additional 1,500 shares during the period. Duncker Streett & Co. Inc.’s holdings in Starbucks were worth $2,233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lake Point Wealth Management bought a new stake in Starbucks in the fourth quarter worth about $25,000. Veritas Investment Management LLP acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $28,000. Paragon Capital Management LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $29,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $32,000. Finally, Clean Yield Group acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 71.67% of the company’s stock.
Several analysts have recently commented on the company. Barclays raised their price target on Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Piper Jaffray Companies raised their price target on shares of Starbucks from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Bank of America set a $85.00 price target on shares of Starbucks and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Co cut shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their price target 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. Finally, Evercore ISI initiated coverage on shares of Starbucks in a report on Tuesday. They issued an “in-line” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.37.
Starbucks stock traded up $0.89 during mid-day trading on Friday, hitting $84.24. 6,807,835 shares of the company’s stock were exchanged, compared to its average volume of 9,524,906. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $84.61. The company has a market capitalization of $100.44 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.32 and a beta of 0.50. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67.
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 analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 9th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Wednesday, May 8th. Starbucks’s dividend payout ratio is currently 59.50%.
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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