Raub Brock Capital Management LP lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 298,185 shares of the coffee company’s stock after selling 2,626 shares during the period. Starbucks comprises about 4.7% of Raub Brock Capital Management LP’s portfolio, making the stock its 4th biggest position. Raub Brock Capital Management LP’s holdings in Starbucks were worth $22,167,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Paragon Capital Management LLC bought a new stake in shares of Starbucks in the 1st quarter valued at about $29,000. Lake Point Wealth Management bought a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Veritas Investment Management LLP bought a new stake in shares of Starbucks in the 4th quarter valued at about $28,000. C J Advisory Inc bought a new stake in shares of Starbucks in the 1st quarter valued at about $34,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 74.73% of the company’s stock.
SBUX stock opened at $77.76 on Thursday. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $78.80. The company has a debt-to-equity ratio of 7.73, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market cap of $93.07 billion, a P/E ratio of 32.13, a PEG ratio of 2.15 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
A number of equities research analysts have commented on the company. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday. Citigroup upped their price target on Starbucks from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Stephens boosted their price objective on Starbucks from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average 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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