New Hampshire Trust lessened its holdings in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,636 shares of the coffee company’s stock after selling 1,200 shares during the quarter. New Hampshire Trust’s holdings in Starbucks were worth $3,398,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hixon Zuercher LLC increased its holdings in Starbucks by 20.7% in the 1st quarter. Hixon Zuercher LLC now owns 54,091 shares of the coffee company’s stock worth $5,632,000 after buying an additional 9,280 shares during the period. Horan Securities Inc. boosted its position in Starbucks by 11.7% in the 1st quarter. Horan Securities Inc. now owns 1,470 shares of the coffee company’s stock worth $153,000 after purchasing an additional 154 shares in the last quarter. First Hawaiian Bank boosted its position in Starbucks by 14.2% in the 1st quarter. First Hawaiian Bank now owns 26,628 shares of the coffee company’s stock worth $2,773,000 after purchasing an additional 3,320 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in Starbucks in the 1st quarter worth approximately $227,000. Finally, Relyea Zuckerberg Hanson LLC boosted its position in Starbucks by 7.4% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,334 shares of the coffee company’s stock worth $347,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 69.68% of the company’s stock.
Starbucks Trading Down 0.6 %
SBUX stock traded down $0.59 during trading on Wednesday, hitting $98.13. 2,802,320 shares of the company’s stock were exchanged, compared to its average volume of 6,339,233. The business has a 50-day moving average price of $103.48 and a two-hundred day moving average price of $103.54. The stock has a market capitalization of $112.50 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 1.70 and a beta of 0.96. Starbucks Co. has a 52-week low of $74.87 and a 52-week high of $115.48.
Starbucks (NASDAQ:SBUX – Get Rating) last posted its earnings results on Tuesday, May 2nd. The coffee company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Starbucks had a negative return on equity of 41.99% and a net margin of 10.46%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.43 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 10th. Starbucks’s dividend payout ratio (DPR) is 68.83%.
Insider Buying and Selling at Starbucks
In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the sale, the chief financial officer now owns 54,761 shares in the company, valued at $5,508,956.60. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.98% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Barclays upped their price objective on Starbucks from $123.00 to $127.00 in a research report on Wednesday, May 3rd. Morgan Stanley upped their price objective on Starbucks from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, April 17th. 51job restated a “maintains” rating on shares of Starbucks in a research report on Wednesday, May 3rd. Bank of America decreased their target price on Starbucks from $138.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.31.
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.