Neuberger Berman Group LLC Has $44.30 Million Position in Starbucks Co. (NASDAQ:SBUX)

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Neuberger Berman Group LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 56.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 765,175 shares of the coffee company’s stock after selling 981,649 shares during the period. Neuberger Berman Group LLC owned about 0.06% of Starbucks worth $44,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Argus Investors Counsel Inc. raised its position in Starbucks by 1.2% during the fourth quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock worth $4,159,000 after acquiring an additional 866 shares during the period. MAI Capital Management raised its position in Starbucks by 4.5% during the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after acquiring an additional 912 shares during the period. V Wealth Management LLC raised its position in Starbucks by 8.6% during the fourth quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock worth $680,000 after acquiring an additional 914 shares during the period. Laurel Wealth Advisors Inc. raised its position in Starbucks by 6.6% during the third quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock worth $834,000 after acquiring an additional 960 shares during the period. Finally, Eastern Bank raised its position in Starbucks by 0.5% during the fourth quarter. Eastern Bank now owns 211,304 shares of the coffee company’s stock worth $12,135,000 after acquiring an additional 970 shares during the period. Hedge funds and other institutional investors own 72.18% of the company’s stock.

A number of equities research analysts have recently commented on SBUX shares. Vetr upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 target price for the company in a research report on Tuesday, April 3rd. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, March 30th. UBS Group set a $64.00 target price on shares of Starbucks and gave the company a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Wedbush reiterated a “hold” rating and issued a $58.00 target price on shares of Starbucks in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and an average target price of $64.12.

Shares of Starbucks opened at $57.02 on Friday, Marketbeat.com reports. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market cap of $77.94 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.62 and a beta of 0.61. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $61.94.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. Starbucks’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. equities research analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Thursday, May 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Starbucks’s dividend payout ratio is presently 58.25%.

Starbucks announced that its Board of Directors has initiated a stock buyback program on Thursday, April 26th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the coffee company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Starbucks 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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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