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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ledyard National Bank increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. purchased a new position in shares of Starbucks during the fourth quarter valued at about $1,317,000. Finally, United Bank increased its position in shares of 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. Institutional investors own 72.18% of the company’s stock.

NASDAQ:SBUX opened at $56.51 on Thursday. Starbucks has a 52 week low of $52.58 and a 52 week high of $61.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. The company has a market cap of $77.94 billion, a PE ratio of 27.43, a PEG ratio of 1.62 and a beta of 0.61.

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

Starbucks announced that its board has approved a share buyback plan on Thursday, April 26th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the coffee company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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

Several equities analysts recently issued reports on SBUX shares. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price target on the stock. in a research report on Wednesday, February 14th. UBS Group set a $64.00 price target on shares of Starbucks and gave the company a “buy” rating in a research report on Friday, March 9th. Wedbush cut shares of Starbucks from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $56.00 in a research report on Thursday, March 29th. Zacks Investment Research cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.12.

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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