Community Bank N.A. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,643 shares of the coffee company’s stock after acquiring an additional 250 shares during the quarter. Community Bank N.A.’s holdings in Starbucks were worth $428,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Benedict Financial Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth about $476,000. Oppenheimer Asset Management Inc. raised its holdings in Starbucks by 1.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 156,354 shares of the coffee company’s stock valued at $10,069,000 after buying an additional 1,814 shares during the last quarter. Ironvine Capital Partners LLC raised its holdings in Starbucks by 10.8% in the 4th quarter. Ironvine Capital Partners LLC now owns 180,048 shares of the coffee company’s stock valued at $12,045,000 after buying an additional 17,623 shares during the last quarter. Gradient Capital Advisors LLC bought a new position in Starbucks in the 4th quarter valued at approximately $203,000. Finally, Alpha Cubed Investments LLC raised its holdings in Starbucks by 19.5% in the 4th quarter. Alpha Cubed Investments LLC now owns 49,236 shares of the coffee company’s stock valued at $3,171,000 after buying an additional 8,047 shares during the last quarter. 75.62% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on shares of Starbucks to $74.00 and gave the company an “outperform” rating in a report on Friday, December 14th. Bank of America set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Friday, January 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 price objective on shares of Starbucks in a report on Friday, November 30th. They noted that the move was a valuation call. BMO Capital Markets dropped their price objective on shares of Starbucks to $60.00 and set a “market perform” rating for the company in a report on Friday, January 11th. They noted that the move was a valuation call. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.01.
NASDAQ:SBUX opened at $69.75 on Monday. The company has a market cap of $86.74 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.00 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.95. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $69.82.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, sell-side analysts expect that Starbucks Co. will post 2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, February 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 6th. Starbucks’s dividend payout ratio (DPR) is 59.50%.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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