Manchester Financial Inc. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,837 shares of the coffee company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osborn Williams & Donohoe LLC lifted its stake in shares of Starbucks by 30.8% in the 1st quarter. Osborn Williams & Donohoe LLC now owns 129,867 shares of the coffee company’s stock valued at $9,853,000 after purchasing an additional 30,587 shares during the period. Howe & Rusling Inc. lifted its stake in shares of Starbucks by 388.8% in the 1st quarter. Howe & Rusling Inc. now owns 5,997 shares of the coffee company’s stock valued at $446,000 after purchasing an additional 4,770 shares during the period. Cowen Prime Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $26,000. Duncker Streett & Co. Inc. lifted its stake in shares of Starbucks by 5.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 30,040 shares of the coffee company’s stock valued at $2,233,000 after purchasing an additional 1,500 shares during the period. Finally, First Midwest Bank Trust Division lifted its stake in shares of Starbucks by 13.3% in the 1st quarter. First Midwest Bank Trust Division now owns 14,459 shares of the coffee company’s stock valued at $1,075,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.

Starbucks stock opened at $77.25 on Thursday. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $79.65. The firm has a market cap of $93.90 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 7.73.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 2.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, May 8th. Starbucks’s payout ratio is 59.50%.

In other news, insider John Culver sold 63,937 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.04, for a total transaction of $4,989,643.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.98% of the stock is owned by corporate insiders.

Several research firms recently issued reports on SBUX. BidaskClub upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price (up from $70.00) on shares of Starbucks in a research note on Monday, May 6th. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Wednesday, May 15th. Citigroup boosted their target price on shares of Starbucks from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Stephens boosted their target price on shares of Starbucks from $65.00 to $72.00 and gave the company 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 given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average price target of $73.88.

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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.

Further Reading: Differences Between Momentum Investing and Long Term Investing

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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