Benin Management CORP boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 19.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,290 shares of the coffee company’s stock after buying an additional 4,925 shares during the period. Starbucks comprises about 0.8% of Benin Management CORP’s portfolio, making the stock its 28th largest position. Benin Management CORP’s holdings in Starbucks were worth $1,769,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of SBUX. Stanford Investment Group Inc. increased its stake in Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock valued at $143,000 after buying an additional 8 shares during the last quarter. Alpha Windward LLC increased its stake in Starbucks by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares during the last quarter. Sfmg LLC increased its stake in Starbucks by 0.5% in the third quarter. Sfmg LLC now owns 6,081 shares of the coffee company’s stock valued at $329,000 after buying an additional 31 shares during the last quarter. Courier Capital LLC increased its position in shares of Starbucks by 0.8% in the fourth quarter. Courier Capital LLC now owns 4,683 shares of the coffee company’s stock worth $260,000 after buying an additional 39 shares in the last quarter. Finally, Bingham Osborn & Scarborough LLC increased its position in shares of Starbucks by 0.8% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 5,444 shares of the coffee company’s stock worth $302,000 after buying an additional 43 shares in the last quarter. 68.49% of the stock is owned by hedge funds and other institutional investors.
Starbucks Co. (NASDAQ:SBUX) traded up 2.74% during midday trading on Friday, reaching $61.46. The company’s stock had a trading volume of 4,505,503 shares. The firm has a market capitalization of $89.00 billion, a price-to-earnings ratio of 30.40 and a beta of 0.79. The stock’s 50-day moving average price is $59.58 and its 200-day moving average price is $57.25. Starbucks Co. has a 12 month low of $50.84 and a 12 month high of $61.94.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the company earned $0.39 earnings per share. Starbucks’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that Starbucks Co. will post $2.10 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.67%. Starbucks’s dividend payout ratio (DPR) is currently 51.28%.
A number of equities research analysts have recently weighed in on the company. Deutsche Bank AG upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $69.00 in a research note on Monday. Stifel Nicolaus upgraded Starbucks to a “buy” rating in a research note on Saturday, May 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Starbucks in a research report on Friday, May 12th. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Finally, Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of Starbucks in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.67.
In other Starbucks news, Director Myron E. Ullman III sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the transaction, the director now directly owns 34,000 shares in the company, valued at $2,054,620. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is owned by company insiders.
Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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