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 (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%.
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks (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.