Howe & Rusling Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 388.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,997 shares of the coffee company’s stock after buying an additional 4,770 shares during the period. Howe & Rusling Inc.’s holdings in Starbucks were worth $446,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Kistler Tiffany Companies LLC lifted its position in Starbucks by 1.5% in the first quarter. Kistler Tiffany Companies LLC now owns 9,461 shares of the coffee company’s stock worth $703,000 after purchasing an additional 142 shares during the period. Orrstown Financial Services Inc. lifted its position in Starbucks by 1.2% in the first quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock worth $955,000 after purchasing an additional 147 shares during the period. Gardiner Nancy B lifted its position in Starbucks by 2.8% in the fourth quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock worth $367,000 after purchasing an additional 156 shares during the period. Old North State Trust LLC lifted its position in Starbucks by 20.6% in the first quarter. Old North State Trust LLC now owns 991 shares of the coffee company’s stock worth $73,000 after purchasing an additional 169 shares during the period. Finally, Tiemann Investment Advisors LLC lifted its position in Starbucks by 3.5% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,160 shares of the coffee company’s stock worth $332,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.
In other Starbucks news, insider John Culver sold 63,937 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.04, for a total transaction of $4,989,643.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.98% of the stock is owned by insiders.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
A number of brokerages have recently commented on SBUX. Wells Fargo & Co downgraded Starbucks from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on Starbucks from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wedbush reiterated a “hold” rating and set a $70.00 price objective on shares of Starbucks in a research report on Thursday, April 18th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective (up previously from $70.00) on shares of Starbucks in a research report on Friday, January 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $73.88.
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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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