Glovista Investments LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,638 shares of the coffee company’s stock after selling 500 shares during the period. Glovista Investments LLC’s holdings in Starbucks were worth $765,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. MAI Capital Management raised its stake in shares of Starbucks by 0.6% in the 4th quarter. MAI Capital Management now owns 20,636 shares of the coffee company’s stock valued at $1,814,000 after purchasing an additional 120 shares during the period. Foundry Partners LLC raised its stake in shares of Starbucks by 2.5% in the 4th quarter. Foundry Partners LLC now owns 5,229 shares of the coffee company’s stock valued at $460,000 after purchasing an additional 126 shares during the period. Certified Advisory Corp raised its stake in shares of Starbucks by 32.5% in the 1st quarter. Certified Advisory Corp now owns 526 shares of the coffee company’s stock valued at $35,000 after purchasing an additional 129 shares during the period. Morningstar Investment Services LLC raised its stake in shares of Starbucks by 2.7% in the 4th quarter. Morningstar Investment Services LLC now owns 5,160 shares of the coffee company’s stock valued at $454,000 after purchasing an additional 137 shares during the period. Finally, First Interstate Bank raised its stake in shares of Starbucks by 0.3% in the 1st quarter. First Interstate Bank now owns 41,287 shares of the coffee company’s stock valued at $2,714,000 after purchasing an additional 138 shares during the period. Institutional investors own 68.58% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating and set a $76.00 price target on the stock. in a research note on Tuesday, May 5th. TheStreet downgraded Starbucks from a “b-” rating to a “c” rating in a research note on Tuesday, April 28th. Bank of America downgraded Starbucks from a “buy” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $73.00 in a research report on Thursday, April 9th. Royal Bank of Canada lifted their target price on Starbucks from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Barclays lowered their target price on Starbucks from $97.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $81.77.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.85 billion. Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. Starbucks’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. Sell-side analysts anticipate that Starbucks Co. will post 1.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, May 7th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
In related news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $62.99, for a total value of $267,833.48. Following the transaction, the director now directly owns 22,728 shares of the company’s stock, valued at $1,431,636.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were 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 ninety days. 0.41% of the stock is currently owned by company insiders.
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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