Raab & Moskowitz Asset Management LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,656 shares of the coffee company’s stock after buying an additional 1,472 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Starbucks were worth $1,383,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Hoover Financial Advisors Inc. acquired a new position in Starbucks during the 4th quarter worth $26,000. Oxler Private Wealth LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $32,000. Clark Financial Advisors acquired a new stake in shares of Starbucks in the fourth quarter valued at $33,000. Phoenix Wealth Advisors acquired a new stake in shares of Starbucks in the fourth quarter valued at $39,000. Finally, Brand Asset Management Group Inc. lifted its holdings in shares of Starbucks by 53.3% in the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the coffee company’s stock valued at $41,000 after buying an additional 131 shares during the period. Hedge funds and other institutional investors own 67.27% of the company’s stock.
In other news, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the completion of the transaction, the chief executive officer now directly owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rachel A. Gonzalez sold 82,894 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the transaction, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,184 shares of company stock valued at $44,685,798. 0.41% of the stock is owned by company insiders.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.75 billion. During the same period in the prior year, the business posted $0.32 EPS. Starbucks’s revenue was up 11.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.57%. Starbucks’s payout ratio is 153.85%.
A number of equities analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Starbucks from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Barclays lifted their target price on shares of Starbucks from $137.00 to $140.00 in a research report on Wednesday, April 28th. Atlantic Securities started coverage on shares of Starbucks in a research report on Tuesday, April 13th. They issued an “overweight” rating and a $128.00 target price on the stock. Gordon Haskett raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $120.00 in a research report on Friday, February 5th. Finally, Cowen lifted their target price on shares of Starbucks from $120.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $120.80.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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