Vancity Investment Management Ltd trimmed its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 9.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,525 shares of the coffee company’s stock after selling 14,691 shares during the quarter. Starbucks accounts for 2.1% of Vancity Investment Management Ltd’s portfolio, making the stock its 14th largest position. Vancity Investment Management Ltd’s holdings in Starbucks were worth $15,258,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Starbucks in the first quarter worth approximately $25,000. Cranbrook Wealth Management LLC acquired a new position in Starbucks in the first quarter worth approximately $26,000. Freedom Wealth Alliance LLC acquired a new position in Starbucks in the fourth quarter worth approximately $26,000. Delta Asset Management LLC TN acquired a new position in Starbucks in the fourth quarter worth approximately $28,000. Finally, Princeton Global Asset Management LLC acquired a new position in Starbucks in the first quarter worth approximately $29,000. 70.13% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SBUX has been the topic of a number of research reports. Barclays dropped their price objective on Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. Wedbush lowered their price target on Starbucks from $112.00 to $105.00 in a report on Wednesday, August 2nd. Citigroup lowered their price target on Starbucks from $117.00 to $112.00 and set a “neutral” rating on the stock in a report on Monday, July 24th. Stifel Nicolaus lowered their price target on Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Starbucks in a report on Thursday, August 17th. They set a “buy” rating on the stock. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $113.70.
Insider Buying and Selling at Starbucks
In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of Starbucks stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $100.60, for a total transaction of $68,307.40. Following the completion of the transaction, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at $5,508,956.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.
Starbucks Price Performance
Shares of SBUX stock opened at $95.28 on Friday. The stock has a market cap of $109.13 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. Starbucks Co. has a one year low of $82.43 and a one year high of $115.48. The stock has a fifty day moving average price of $99.32 and a 200 day moving average price of $101.68.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its earnings results on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 44.46% and a net margin of 10.81%. Starbucks’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.45 EPS for the current year.
Starbucks Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.23%. Starbucks’s payout ratio is presently 64.63%.
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.
- Five stocks we like better than Starbucks
- Business Services Stocks Investing
- The Best 5 Small Cap AI Companies to Buy Now
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Miso Robotics Stock: Is an IPO Coming Soon?
- What Does the Consumer Price Index Measure?
- 3 Stocks to Play the Easing Food Supply Chain
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.