Mogy Joel R Investment Counsel Inc. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 1.9% during the 1st quarter, Holdings Channel reports. The firm owned 361,156 shares of the coffee company’s stock after buying an additional 6,728 shares during the period. Starbucks accounts for 3.6% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 8th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Starbucks were worth $26,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in SBUX. Lake Point Wealth Management bought a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Cowen Prime Services LLC bought a new stake in Starbucks during the first quarter worth about $26,000. Veritas Investment Management LLP bought a new stake in Starbucks during the fourth quarter worth about $28,000. Paragon Capital Management LLC bought a new stake in Starbucks during the first quarter worth about $29,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Starbucks during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.37% of the company’s stock.
In other Starbucks news, insider John Culver sold 63,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.98% of the stock is currently owned by insiders.
Shares of NASDAQ SBUX opened at $76.41 on Friday. 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 stock has a market cap of $92.55 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $79.65.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, May 8th. Starbucks’s payout ratio is 59.50%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Wednesday, May 15th. Wedbush reaffirmed a “hold” rating and set a $70.00 price objective on shares of Starbucks in a research report on Thursday, April 18th. Oppenheimer upped their price objective on shares of Starbucks from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. Finally, BidaskClub cut shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Starbucks currently has a consensus 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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