Douglass Winthrop Advisors LLC raised its stake in Starbucks (NASDAQ:SBUX) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,223 shares of the coffee company’s stock after acquiring an additional 112,110 shares during the period. Starbucks accounts for approximately 1.6% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 25th largest position. Douglass Winthrop Advisors LLC’s holdings in Starbucks were worth $32,373,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Argus Investors Counsel Inc. boosted its stake in Starbucks by 1.2% in the fourth quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock valued at $4,159,000 after acquiring an additional 866 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Starbucks by 8.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,863 shares of the coffee company’s stock valued at $629,000 after acquiring an additional 884 shares in the last quarter. MAI Capital Management boosted its stake in Starbucks by 4.5% in the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock valued at $1,228,000 after acquiring an additional 912 shares in the last quarter. V Wealth Management LLC boosted its stake in Starbucks by 8.6% in the fourth quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock valued at $680,000 after acquiring an additional 914 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its stake in Starbucks by 6.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock valued at $834,000 after acquiring an additional 960 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.
Get Starbucks alerts:NASDAQ SBUX opened at $57.16 on Monday. The stock has a market cap of $78.88 billion, a P/E ratio of 27.75, a PEG ratio of 1.64 and a beta of 0.63. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87. 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 quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm 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%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. sell-side analysts predict that Starbucks will post 2.49 EPS for the current fiscal year.
Starbucks declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the coffee company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 9th. This represents a $1.20 annualized dividend and a yield of 2.10%. Starbucks’s dividend payout ratio is currently 58.25%.
In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the transaction, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.
SBUX has been the subject of a number of research reports. Wedbush reaffirmed a “buy” rating and issued a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Goldman Sachs cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and reduced their target price for the company from $73.00 to $68.00 in a report on Friday, January 26th. BMO Capital Markets upped their target price on shares of Starbucks to $58.00 and gave the company a “market perform” rating in a report on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 target price on shares of Starbucks in a report on Friday, January 26th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.25.
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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