Bristol Gate Capital Partners Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 764,102 shares of the coffee company’s stock after selling 27,541 shares during the quarter. Starbucks comprises about 3.7% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 21st largest holding. Bristol Gate Capital Partners Inc. owned about 0.07% of Starbucks worth $73,361,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $1,240,652,000. Flossbach Von Storch AG grew its stake in Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia raised its position in Starbucks by 342.7% during the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after purchasing an additional 1,672,656 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Starbucks during the 3rd quarter worth approximately $147,125,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
Starbucks Stock Up 1.9 %
SBUX stock traded up $1.46 during midday trading on Friday, reaching $80.22. 12,669,715 shares of the company’s stock traded hands, compared to its average volume of 13,680,878. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The company has a market cap of $90.87 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.75 and a beta of 0.97. The firm’s fifty day moving average price is $82.78 and its 200-day moving average price is $90.90.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. Analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.
Starbucks Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on SBUX shares. HSBC dropped their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. BTIG Research reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird lowered their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. UBS Group reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $96.43.
Read Our Latest Research Report on Starbucks
Insiders Place Their Bets
In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,750 shares of company stock valued at $642,050 in the last three months. 1.98% of the stock is currently owned by insiders.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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