Starbucks Co. (SBUX) Position Boosted by Boston Financial Mangement LLC
Boston Financial Mangement LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 21.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the coffee company’s stock after buying an additional 1,091 shares during the quarter. Boston Financial Mangement LLC’s holdings in Starbucks were worth $393,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Highwater Wealth Management LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $28,000. Clean Yield Group purchased a new position in shares of Starbucks during the fourth quarter worth about $33,000. Legacy Financial Advisors Inc. grew its holdings in shares of Starbucks by 173.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 747 shares of the coffee company’s stock worth $48,000 after purchasing an additional 474 shares during the last quarter. Bell Rock Capital LLC grew its holdings in shares of Starbucks by 63.1% during the fourth quarter. Bell Rock Capital LLC now owns 889 shares of the coffee company’s stock worth $57,000 after purchasing an additional 344 shares during the last quarter. Finally, Opera Trading Capital purchased a new position in shares of Starbucks during the fourth quarter worth about $97,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Vivek C. Varma sold 73,242 shares of Starbucks stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the completion of the sale, the executive vice president now directly owns 140,882 shares in the company, valued at approximately $9,630,693.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vivek C. Varma sold 50,000 shares of Starbucks stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $69.13, for a total transaction of $3,456,500.00. Following the sale, the executive vice president now owns 117,640 shares of the company’s stock, valued at $8,132,453.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 495,442 shares of company stock valued at $33,860,990. Insiders own 3.98% of the company’s stock.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The firm 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 firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Wednesday, February 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Starbucks’s payout ratio is 59.50%.
SBUX has been the topic of several research reports. Zacks Investment Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Starbucks in a report on Thursday, November 15th. BMO Capital Markets raised their price objective on Starbucks from $51.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday, November 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $70.00 price objective (up previously from $66.00) on shares of Starbucks in a report on Monday, December 3rd. Finally, UBS Group set a $72.00 target price on shares of Starbucks and gave the stock a “buy” rating in a research note on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. Starbucks presently has an average rating of “Hold” and an average target price of $67.01.
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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