Brinker Capital Inc. Has $1.91 Million Holdings in Starbucks Co. (SBUX)

Brinker Capital Inc. Has $1.91 Million Holdings in Starbucks Co. (SBUX)

Brinker Capital Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 68.1% during the 1st quarter, Holdings Channel reports. The firm owned 25,721 shares of the coffee company’s stock after selling 54,826 shares during the period. Brinker Capital Inc.’s holdings in Starbucks were worth $1,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Oregon Public Employees Retirement Fund grew its holdings in Starbucks by 5,590.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after purchasing an additional 23,263,399 shares during the last quarter. Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter valued at $807,368,000. Two Sigma Advisers LP purchased a new stake in shares of Starbucks during the fourth quarter valued at $352,796,000. Swedbank purchased a new stake in shares of Starbucks during the fourth quarter valued at $100,070,000. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Starbucks by 55.2% during the fourth quarter. Bahl & Gaynor Inc. now owns 2,638,648 shares of the coffee company’s stock valued at $169,929,000 after buying an additional 938,163 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.

SBUX has been the topic of a number of research analyst reports. BidaskClub lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Monday, January 28th. 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. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group boosted their price objective on shares of Starbucks from $76.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Starbucks presently has a consensus rating of “Buy” and a consensus price target of $73.38.

In related news, EVP Vivek C. Varma sold 70,364 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $70.05, for a total transaction of $4,928,998.20. Following the completion of the transaction, the executive vice president now directly owns 138,004 shares in the company, valued at $9,667,180.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.98% of the company’s stock.

NASDAQ SBUX opened at $77.90 on Friday. The firm has a market cap of $94.35 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51. Starbucks Co. has a 1 year low of $47.37 and a 1 year high of $78.74. 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 earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts predict 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. Investors of record on Thursday, May 9th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a yield of 1.85%. Starbucks’s dividend payout ratio is presently 59.50%.

Starbucks 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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