Robeco Institutional Asset Management B.V. lifted its holdings in Starbucks (NASDAQ:SBUX) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 734,309 shares of the coffee company’s stock after acquiring an additional 79,337 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of Starbucks worth $42,509,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Ledyard National Bank grew its position in Starbucks by 2.3% during the fourth quarter. Ledyard National Bank now owns 135,394 shares of the coffee company’s stock valued at $7,775,000 after buying an additional 3,025 shares during the period. MAI Capital Management grew 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 valued at $1,228,000 after buying an additional 912 shares during the period. Trust Co. of Vermont grew its position in Starbucks by 11.1% during the fourth quarter. Trust Co. of Vermont now owns 135,585 shares of the coffee company’s stock valued at $7,787,000 after buying an additional 13,566 shares during the period. Monetta Financial Services Inc. acquired a new stake in Starbucks during the fourth quarter valued at $1,317,000. Finally, United Bank grew its position in Starbucks by 5.0% during the fourth quarter. United Bank now owns 23,149 shares of the coffee company’s stock valued at $1,329,000 after buying an additional 1,112 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.
Starbucks opened at $57.13 on Tuesday, MarketBeat Ratings reports. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $79.03 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. Starbucks has a twelve month low of $57.00 and a twelve month high of $57.51.
Starbucks (NASDAQ:SBUX) last posted its quarterly 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 firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. research analysts anticipate that Starbucks will post 2.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, May 9th. Starbucks’s dividend payout ratio is currently 58.25%.
Starbucks declared that its board has authorized a stock buyback program on Thursday, April 26th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the coffee company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several research firms recently commented on SBUX. ValuEngine lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Wedbush restated a “hold” rating and set a $58.00 price target on shares of Starbucks in a research report on Friday, April 27th. Oppenheimer restated an “outperform” rating on shares of Starbucks in a research report on Friday, April 27th. BidaskClub lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Saturday, May 5th. Finally, Piper Jaffray restated an “overweight” rating on shares of Starbucks in a research report on Friday, April 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.25.
In other news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the transaction, the director now directly owns 26,500 shares of the company’s stock, valued at $1,592,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.48% of the company’s stock.
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.
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