Squar Milner Financial Services LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,157 shares of the coffee company’s stock after acquiring an additional 781 shares during the period. Squar Milner Financial Services LLC’s holdings in Starbucks were worth $680,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SBUX. Oregon Public Employees Retirement Fund raised its holdings in Starbucks by 5,590.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after buying an additional 23,263,399 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Starbucks by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock valued at $874,515,000 after buying an additional 100,049 shares during the period. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at approximately $807,368,000. Legal & General Group Plc raised its holdings in Starbucks by 1.4% in the fourth quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock valued at $421,405,000 after buying an additional 91,187 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Starbucks in the fourth quarter valued at approximately $352,796,000. 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 twelve month low of $47.37 and a twelve month high of $78.80. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67. The company has a market cap of $93.07 billion, a PE ratio of 32.13, a P/E/G ratio of 2.15 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last released 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 net margin of 11.87% and a negative return on equity of 494.61%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter last year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 2.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, May 8th. Starbucks’s payout ratio is currently 59.50%.
SBUX has been the topic of several research reports. Barclays raised their price target on shares of Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. UBS Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $72.00 to $78.00 in a research note on Monday, April 8th. Piper Jaffray Companies lifted their price objective on shares of Starbucks from $70.00 to $77.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective (up previously from $70.00) on shares of Starbucks in a research note on Friday, January 25th. Finally, Wedbush lifted their price objective on shares of Starbucks from $70.00 to $75.00 and gave the company a “neutral” 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 given a strong buy rating to the company. Starbucks presently has a consensus rating of “Buy” and a consensus price target of $73.88.
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.
Featured Story: Momentum Indicators
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.