Cullen Frost Bankers Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,384 shares of the coffee company’s stock after buying an additional 33,750 shares during the period. Starbucks makes up about 1.0% of Cullen Frost Bankers Inc.’s holdings, making the stock its 21st biggest position. Cullen Frost Bankers Inc.’s holdings in Starbucks were worth $33,543,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Cipher Capital LP acquired a new stake in Starbucks in the fourth quarter valued at $2,261,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Starbucks during the 4th quarter worth $32,000. Mackay Shields LLC raised its stake in shares of Starbucks by 55.0% during the 4th quarter. Mackay Shields LLC now owns 625,131 shares of the coffee company’s stock worth $40,259,000 after buying an additional 221,699 shares during the last quarter. Rainier Group Investment Advisory LLC raised its stake in shares of Starbucks by 6.9% during the 4th quarter. Rainier Group Investment Advisory LLC now owns 11,013 shares of the coffee company’s stock worth $709,000 after buying an additional 708 shares during the last quarter. Finally, 10 15 Associates Inc. raised its stake in shares of Starbucks by 2.7% during the 4th quarter. 10 15 Associates Inc. now owns 241,207 shares of the coffee company’s stock worth $15,534,000 after buying an additional 6,247 shares during the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Starbucks stock opened at $76.15 on Friday. The stock has a market cap of $92.23 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.17 and a beta of 0.51. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $79.65. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Thursday, May 9th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is 59.50%.
Several research analysts have recently issued reports on the company. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target (up previously from $70.00) on shares of Starbucks in a research note on Monday, May 6th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Wednesday, May 15th. Citigroup lifted their price target on Starbucks from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Stephens lifted their price target on Starbucks from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.88.
In other Starbucks news, insider John Culver sold 63,937 shares of Starbucks stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.98% of the stock is owned by insiders.
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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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