Thompson Investment Management Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 18.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,051 shares of the coffee company’s stock after acquiring an additional 4,275 shares during the quarter. Thompson Investment Management Inc.’s holdings in Starbucks were worth $1,321,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dorsey & Whitney Trust CO LLC lifted 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 during the last quarter. Scholtz & Company LLC lifted its stake in Starbucks by 3.7% in the first quarter. Scholtz & Company LLC now owns 25,750 shares of the coffee company’s stock valued at $1,491,000 after acquiring an additional 925 shares during the last quarter. Mutual Advisors LLC lifted its stake in Starbucks by 5.5% in the first quarter. Mutual Advisors LLC now owns 18,464 shares of the coffee company’s stock valued at $1,069,000 after acquiring an additional 959 shares during the last quarter. Vontobel Swiss Wealth Advisors AG lifted its stake in Starbucks by 2.7% in the first quarter. Vontobel Swiss Wealth Advisors AG now owns 36,693 shares of the coffee company’s stock valued at $2,124,000 after acquiring an additional 982 shares during the last quarter. Finally, D.B. Root & Company LLC lifted its stake in Starbucks by 8.2% in the first quarter. D.B. Root & Company LLC now owns 13,190 shares of the coffee company’s stock valued at $764,000 after acquiring an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 72.06% of the company’s stock.
Get Starbucks alerts:A number of research firms have issued reports on SBUX. ValuEngine cut shares of Starbucks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. BidaskClub cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Barclays reduced their target price on shares of Starbucks to $60.00 in a research note on Wednesday, June 20th. BMO Capital Markets reduced their target price on shares of Starbucks from $58.00 to $56.00 and set a “market perform” rating for the company in a research note on Wednesday, June 20th. Finally, Stifel Nicolaus reduced their target price on shares of Starbucks from $58.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.90.
Shares of Starbucks opened at $49.90 on Tuesday, Marketbeat reports. Starbucks Co. has a 1 year low of $47.37 and a 1 year high of $61.94. The firm has a market cap of $67.59 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.46 and a beta of 0.65. 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 (NASDAQ:SBUX) last announced its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Starbucks’s revenue was up 13.9% compared to the same quarter last year. analysts predict that Starbucks Co. will post 2.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Thursday, August 9th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $1.44 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s payout ratio is 58.25%.
Starbucks announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 26th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the coffee company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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