Wealthstreet Investment Advisors LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,854 shares of the coffee company’s stock after selling 2,255 shares during the quarter. Wealthstreet Investment Advisors LLC’s holdings in Starbucks were worth $2,191,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bedel Financial Consulting Inc. purchased a new stake in Starbucks in the 1st quarter worth about $104,000. Prime Capital Investment Advisors LLC purchased a new stake in Starbucks in the 4th quarter worth about $113,000. Transamerica Financial Advisors Inc. purchased a new stake in Starbucks in the 1st quarter worth about $118,000. Trilogy Capital Inc. purchased a new stake in Starbucks in the 1st quarter worth about $135,000. Finally, Gables Capital Management Inc. purchased a new stake in Starbucks in the 1st quarter worth about $159,000. Hedge funds and other institutional investors own 71.87% of the company’s stock.
NASDAQ SBUX opened at $52.15 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $61.94. The company has a market cap of $71.97 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.65.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 62.96%. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. equities analysts predict that Starbucks Co. will post 2.41 earnings per share for the current year.
Starbucks declared that its board has initiated a share buyback plan on Thursday, April 26th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the coffee company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, August 9th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 8th. This is an increase from Starbucks’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.76%. Starbucks’s dividend payout ratio (DPR) is currently 58.25%.
A number of equities analysts have commented on SBUX shares. Oppenheimer restated an “outperform” rating on shares of Starbucks in a research note on Friday, April 27th. Wedbush dropped their target price on shares of Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $64.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, June 21st. BidaskClub downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Finally, Barclays dropped their target price on shares of Starbucks to $60.00 in a research note on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. Starbucks has an average rating of “Hold” and a consensus target price of $60.01.
Starbucks Company Profile
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.
Further Reading: Diversification For Individual Investors
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (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.