EULAV Asset Management Raises Stake in Starbucks (SBUX)

EULAV Asset Management boosted its holdings in shares of Starbucks (NASDAQ:SBUX) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,000 shares of the coffee company’s stock after buying an additional 5,000 shares during the quarter. EULAV Asset Management’s holdings in Starbucks were worth $7,526,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Argus Investors Counsel Inc. increased its holdings in Starbucks by 1.2% during the fourth quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock valued at $4,159,000 after buying an additional 866 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings 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 worth $629,000 after purchasing an additional 884 shares during the last quarter. MAI Capital Management grew its holdings in Starbucks by 4.5% in the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after purchasing an additional 912 shares during the last quarter. V Wealth Management LLC grew its holdings in Starbucks by 8.6% in the fourth quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock worth $680,000 after purchasing an additional 914 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. grew its holdings in Starbucks by 6.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock worth $834,000 after purchasing an additional 960 shares during the last quarter. 72.38% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on SBUX shares. Zacks Investment Research lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Wedbush reaffirmed a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, March 30th. Finally, UBS set a $66.00 price target on shares of Starbucks and gave the stock a “buy” rating in a report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the stock. Starbucks currently has an average rating of “Buy” and an average target price of $64.25.

In related news, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.48% of the company’s stock.

NASDAQ:SBUX opened at $57.34 on Tuesday. The firm has a market cap of $78.88 billion, a PE ratio of 27.83, a P/E/G ratio of 1.64 and a beta of 0.63. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 0.83.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. equities analysts predict that Starbucks will post 2.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 dividend on an annualized basis and a yield of 2.09%. Starbucks’s dividend payout ratio is presently 58.25%.

Starbucks declared that its board has initiated a share repurchase plan on Thursday, April 26th that allows the company to buyback 0 shares. This buyback authorization allows the coffee company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically 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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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