Analyst IMS Investment Management Services Ltd. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,500 shares of the coffee company’s stock after selling 1,093 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Starbucks were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Capital Wealth Alliance LLC bought a new stake in Starbucks in the 4th quarter valued at about $25,000. RMR Wealth Builders purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Tobias Financial Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $31,000. Solstein Capital LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $32,000. Finally, Shine Investment Advisory Services Inc. boosted its stake in shares of Starbucks by 63.0% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock worth $33,000 after buying an additional 143 shares during the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.
In related news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $74.89, for a total value of $318,432.28. Following the sale, the director now owns 22,728 shares in the company, valued at $1,702,099.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $70.14, for a total transaction of $140,280.00. The disclosure for this sale can be found here. Insiders have sold 10,504 shares of company stock valued at $726,546 in the last three months. 0.41% of the stock is owned by insiders.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.85 billion. Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. Starbucks’s revenue was down 4.9% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. On average, equities research analysts forecast that Starbucks Co. will post 1.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, May 7th. Starbucks’s dividend payout ratio (DPR) is currently 57.95%.
SBUX has been the topic of several research analyst reports. Royal Bank of Canada upped their price target on shares of Starbucks from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Credit Suisse Group restated a “buy” rating and set a $82.00 price target on shares of Starbucks in a research report on Wednesday, April 29th. Stephens cut their price target on shares of Starbucks from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Argus dropped their target price on shares of Starbucks from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Bank of America lowered shares of Starbucks from a “buy” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $73.00 in a report on Thursday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $81.77.
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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