Fosun International Ltd decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 69.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,025 shares of the coffee company’s stock after selling 6,800 shares during the quarter. Fosun International Ltd’s holdings in Starbucks were worth $205,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Candriam Luxembourg S.C.A. grew its position in shares of Starbucks by 2.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 383,061 shares of the coffee company’s stock worth $33,679,000 after purchasing an additional 9,697 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Starbucks during the 4th quarter valued at approximately $106,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Starbucks by 321.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,696 shares of the coffee company’s stock valued at $149,000 after buying an additional 1,294 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Starbucks in the fourth quarter worth $540,000. Finally, Signet Financial Management LLC bought a new position in shares of Starbucks during the fourth quarter worth $311,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SBUX. Guggenheim reiterated a “hold” rating on shares of Starbucks in a report on Wednesday, January 29th. Argus dropped their price target on Starbucks from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Royal Bank of Canada lifted their price objective on Starbucks from $80.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Barclays reduced their price target on shares of Starbucks from $97.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group boosted their target price on shares of Starbucks from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have assigned a buy rating to the stock. Starbucks currently has an average rating of “Hold” and a consensus target price of $81.77.
NASDAQ:SBUX traded down $0.43 during midday trading on Friday, hitting $77.62. The stock had a trading volume of 7,580,153 shares, compared to its average volume of 11,421,882. The stock has a 50-day moving average of $73.70 and a 200 day moving average of $80.77. The company has a market capitalization of $91.19 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.57 and a beta of 0.80. Starbucks Co. has a one year low of $50.02 and a one year high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Starbucks’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.11%. Starbucks’s dividend payout ratio is currently 57.95%.
In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total transaction of $267,833.48. Following the sale, the director now owns 22,728 shares of the company’s stock, valued at approximately $1,431,636.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, March 9th. The shares were sold at an average price of $70.14, for a total value of $140,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,504 shares of company stock valued at $726,546. Company insiders own 0.41% of the company’s stock.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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