Global Retirement Partners LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,848 shares of the coffee company’s stock after purchasing an additional 114 shares during the period. Global Retirement Partners LLC’s holdings in Starbucks were worth $1,161,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SBUX. American Research & Management Co. lifted its holdings in Starbucks by 225.0% during the 3rd quarter. American Research & Management Co. now owns 325 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Price Wealth LLC raised its stake in shares of Starbucks by 237.4% in the third quarter. Price Wealth LLC now owns 361 shares of the coffee company’s stock worth $31,000 after acquiring an additional 254 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Starbucks in the third quarter worth about $31,000. Rocky Mountain Advisers LLC bought a new position in shares of Starbucks in the third quarter worth about $34,000. Finally, Kathmere Capital Management LLC bought a new position in shares of Starbucks in the third quarter worth about $47,000. 68.36% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Myron E. Ullman III sold 4,258 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $87.56, for a total transaction of $372,830.48. Following the sale, the director now owns 22,782 shares in the company, valued at approximately $1,994,791.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joshua Cooper Ramo sold 2,925 shares of the company’s stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $98.28, for a total value of $287,469.00. Following the sale, the director now owns 25,200 shares in the company, valued at approximately $2,476,656. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,489 shares of company stock worth $26,173,565. Company insiders own 0.41% of the company’s stock.
NASDAQ SBUX opened at $102.89 on Thursday. The stock has a market capitalization of $120.28 billion, a price-to-earnings ratio of 92.69, a PEG ratio of 2.26 and a beta of 0.81. The stock’s 50 day moving average price is $102.77 and its two-hundred day moving average price is $88.46. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $107.75.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, October 29th. The coffee company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.20. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.07 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Sell-side analysts forecast that Starbucks Co. will post 0.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 5th. Stockholders of record on Thursday, February 18th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.75%. Starbucks’s dividend payout ratio is currently 63.60%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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