Bremer Bank National Association trimmed its stake in shares of Starbucks Co. (NASDAQ: SBUX – Get Rating) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,247 shares of the coffee company stock after selling 557 shares during the period. Bremer Bank National Association’s holdings in Starbucks were worth $ 477,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Starbucks by 10.3% during the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company stock worth $ 9,645,766,000 after purchasing an additional 7,672,037 shares during the last quarter. State Street Corp raised its position in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company stock worth $ 5,672,559,000 after purchasing an additional 1,649,721 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company stock worth $ 2,385,035,000 after purchasing an additional 331,190 shares during the last quarter. Morgan Stanley raised its position in shares of Starbucks by 3.1% during the 2nd quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company stock worth $ 1,455,407,000 after purchasing an additional 396,104 shares during the last quarter. Finally, Fundsmith LLP raised its position in shares of Starbucks by 7.7% during the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company stock worth $ 1,354,132,000 after purchasing an additional 831,723 shares during the last quarter. Institutional investors own 69.21% of the company stock.
Shares of Starbucks stock opened at $ 71.87 on Monday. The firm has a market cap of $ 82.43 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. The firm’s 50-day simple moving average is $ 76.00 and its 200-day simple moving average is $ 90.40. Starbucks Co. has a 1 year low of $ 68.39 and a 1 year high of $ 126.32.
Starbucks (NASDAQ: SBUX – Get Rating) last issued its earnings results on Tuesday, May 3rd. The coffee company reported $ 0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 0.60 by ($ 0.01). The company had revenue of $ 7.64 billion during the quarter, compared to analyst estimates of $ 7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $ 0.62 EPS. Equities analysts expect that Starbucks Co. will post 2.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were paid a $ 0.49 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $ 1.96 dividend on an annualized basis and a dividend yield of 2.73%. Starbucks’s dividend payout ratio (DPR) is currently 52.55%.
SBUX has been the subject of several recent analyst reports. Guggenheim lowered their target price on shares of Starbucks from $ 95.00 to $ 87.00 in a research note on Wednesday, April 13th. Piper Sandler lowered their target price on shares of Starbucks from $ 100.00 to $ 80.00 in a research note on Wednesday, May 4th. Wedbush cut shares of Starbucks from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $ 105.00 to $ 91.00 in a research note on Tuesday, April 5th. TheStreet cut shares of Starbucks from a “b-” rating to a “c +” rating in a research note on Friday, April 22nd. Finally, Morgan Stanley lowered their target price on shares of Starbucks from $ 94.00 to $ 87.00 in a research note on Wednesday, May 4th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $ 102.72.
In other news, CEO Howard D. Schultz bought 137,500 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $ 72.67 per share, for a total transaction of $ 9,992,125.00. Following the transaction, the chief executive officer now owns 19,534,460 shares in the company, valued at $ 1,419,569,208.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Howard D. Schultz bought 72,500 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average price of $ 68.85 per share, with a total value of $ 4,991,625.00. Following the transaction, the chief executive officer now owns 19,606,960 shares in the company, valued at approximately $ 1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.
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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