Sequoia Financial Advisors LLC lifted its stake in shares of Starbucks Co. (NASDAQ: SBUX – Get Rating) by 187.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,088 shares of the coffee company stock after buying an additional 17,015 shares during the period. Sequoia Financial Advisors LLC’s holdings in Starbucks were worth $ 3,051,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Starbucks by 3.5% during the fourth quarter. State Street Corp now owns 48,495,841 shares of the coffee company stock valued at $ 5,672,559,000 after buying an additional 1,649,721 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company stock valued at $ 2,385,035,000 after buying an additional 331,190 shares during the last quarter. Morgan Stanley boosted its position in shares of Starbucks by 3.1% during the second quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company stock valued at $ 1,455,407,000 after buying an additional 396,104 shares during the last quarter. Fundsmith LLP boosted its position in shares of Starbucks by 7.7% during the fourth quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company stock valued at $ 1,354,132,000 after buying an additional 831,723 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Starbucks by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,279,589 shares of the coffee company stock valued at $ 968,463,000 after buying an additional 177,483 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors.
In other news, CEO Howard D. Schultz bought 137,500 shares of the company stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $ 72.67 per share, for a total transaction of $ 9,992,125.00. Following the completion of the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $ 1,419,569,208.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard D. Schultz bought 72,500 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average cost of $ 68.85 per share, for a total transaction of $ 4,991,625.00. Following the completion of the purchase, the chief executive officer now directly owns 19,606,960 shares of the company stock, valued at $ 1,349,939,196. The disclosure for this purchase can be found here. Insiders own 0.27% of the company stock.
Several research analysts recently issued reports on SBUX shares. UBS Group cut their target price on Starbucks from $ 105.00 to $ 86.00 and set a “neutral” rating on the stock in a research report on Monday, April 25th. BMO Capital Markets cut their price objective on Starbucks from $ 115.00 to $ 105.00 in a research report on Wednesday, May 4th. Piper Sandler cut their price objective on Starbucks from $ 100.00 to $ 80.00 in a research report on Wednesday, May 4th. Citigroup cut their price objective on Starbucks from $ 91.00 to $ 76.00 in a research report on Wednesday, May 4th. Finally, Morgan Stanley cut their price objective on Starbucks from $ 94.00 to $ 87.00 in a research report on Wednesday, May 4th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $ 102.72.
Shares of SBUX opened at $ 70.95 on Friday. Starbucks Co. has a 1-year low of $ 68.39 and a 1-year high of $ 126.32. The company has a market capitalization of $ 81.37 billion, a P / E ratio of 19.02, a P / E / G ratio of 2.23 and a beta of 0.97. The firm’s 50 day simple moving average is $ 76.19 and its 200 day simple moving average is $ 90.93.
Starbucks (NASDAQ: SBUX – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $ 0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.60 by ($ 0.01). Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The business had revenue of $ 7.64 billion during the quarter, compared to the estimate consensus of $ 7.60 billion. During the same quarter in the previous year, the firm posted $ 0.62 earnings per share. The company revenue was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 2.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were issued a $ 0.49 dividend. The ex-dividend date was Thursday, May 12th. This represents a $ 1.96 annualized dividend and a dividend yield of 2.76%. Starbucks’s dividend payout ratio is currently 52.55%.
Starbucks Company Profile: (Get Rating)
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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