Kiwi Wealth Investments Limited Partnership Acquires New Stake in Starbucks (SBUX)

Kiwi Wealth Investments Limited Partnership purchased a new position in Starbucks (NASDAQ:SBUX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 119,565 shares of the coffee company’s stock, valued at approximately $6,922,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bedel Financial Consulting Inc. bought a new position in Starbucks in the first quarter worth approximately $104,000. Taylor Hoffman Wealth Management bought a new stake in shares of Starbucks during the 4th quarter valued at $107,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $113,000. Gradient Investments LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $117,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Starbucks during the 1st quarter valued at $118,000. Institutional investors and hedge funds own 72.18% of the company’s stock.

SBUX has been the topic of several recent analyst reports. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price objective on the stock. in a research report on Wednesday, February 14th. 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 price objective on shares of Starbucks and gave the company a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Wedbush restated a “hold” rating and set a $58.00 price objective 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 issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.12.

Starbucks opened at $56.51 on Thursday, according to MarketBeat.com. The firm has a market cap of $77.94 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.62 and a beta of 0.61. Starbucks has a fifty-two week low of $52.58 and a fifty-two week high of $61.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 0.83.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. Starbucks’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. research analysts predict that Starbucks will post 2.49 EPS for the current year.

Starbucks declared that its Board of Directors has approved a share repurchase program on Thursday, April 26th that allows the company to repurchase 0 shares. This repurchase authorization allows the coffee company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Thursday, May 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. Starbucks’s payout ratio is currently 58.25%.

About Starbucks

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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