Rainier Group Investment Advisory LLC lifted its holdings in Starbucks (NASDAQ:SBUX) by 41.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,305 shares of the coffee company’s stock after purchasing an additional 3,000 shares during the quarter. Starbucks accounts for approximately 0.3% of Rainier Group Investment Advisory LLC’s investment portfolio, making the stock its 22nd largest position. Rainier Group Investment Advisory LLC’s holdings in Starbucks were worth $597,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Franklin Street Advisors Inc. NC bought a new stake in Starbucks in the fourth quarter worth $6,766,000. Union Bankshares Corp grew its stake in Starbucks by 69.5% in the fourth quarter. Union Bankshares Corp now owns 60,624 shares of the coffee company’s stock valued at $3,482,000 after purchasing an additional 24,854 shares during the last quarter. Patriot Wealth Management Inc. grew its stake in Starbucks by 1.7% in the fourth quarter. Patriot Wealth Management Inc. now owns 87,384 shares of the coffee company’s stock valued at $5,018,000 after purchasing an additional 1,499 shares during the last quarter. First American Trust FSB grew its stake in Starbucks by 3.9% in the fourth quarter. First American Trust FSB now owns 68,407 shares of the coffee company’s stock valued at $3,929,000 after purchasing an additional 2,555 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its stake in Starbucks by 0.8% in the fourth quarter. LGT Capital Partners LTD. now owns 437,150 shares of the coffee company’s stock valued at $25,106,000 after purchasing an additional 3,360 shares during the last quarter. 72.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks traded up $0.29, reaching $56.50, on Thursday, MarketBeat reports. 117,302 shares of the stock were exchanged, compared to its average volume of 9,561,793. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 1.31. Starbucks has a twelve month low of $52.58 and a twelve month high of $61.94. The company has a market capitalization of $77.94 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.
Starbucks announced that its board has approved a share buyback program on Thursday, April 26th that permits the company to buyback 0 shares. This buyback authorization permits the coffee company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Thursday, May 10th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 9th. Starbucks’s dividend payout ratio (DPR) is 58.25%.
SBUX has been the topic of several analyst reports. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 target price on the stock. in a research note on Wednesday, February 14th. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. UBS Group set a $64.00 target price on Starbucks and gave the company a “buy” rating in a research note on Friday, March 9th. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Wedbush reiterated a “hold” rating and issued a $58.00 target price on shares of Starbucks in a research note on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.12.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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