Quantamental Technologies LLC Acquires New Holdings in Starbucks Co. (SBUX)

Quantamental Technologies LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 5,586 shares of the coffee company’s stock, valued at approximately $415,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in Starbucks by 5,590.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after buying an additional 23,263,399 shares during the period. Norges Bank acquired a new position in Starbucks during the 4th quarter valued at about $807,368,000. Two Sigma Advisers LP acquired a new position in Starbucks during the 4th quarter valued at about $352,796,000. Swedbank acquired a new position in Starbucks during the 4th quarter valued at about $100,070,000. Finally, Assenagon Asset Management S.A. increased its stake in Starbucks by 432.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock valued at $67,038,000 after buying an additional 1,173,260 shares during the period. 74.73% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. UBS Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and raised their price objective for the company from $72.00 to $78.00 in a research report on Monday, April 8th. Piper Jaffray Companies raised their price objective on shares of Starbucks from $70.00 to $77.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Wells Fargo & Co lowered shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price objective (up previously from $70.00) on shares of Starbucks in a research report on Friday, January 25th. One 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 currently has a consensus rating of “Buy” and an average target price of $73.88.



In other Starbucks news, insider John Culver sold 63,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.98% of the company’s stock.

Starbucks stock opened at $77.53 on Wednesday. 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 Co. has a 12-month low of $47.37 and a 12-month high of $79.65. The stock has a market capitalization of $93.89 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.21 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The business 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 revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 2.78 EPS for the current fiscal year.

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

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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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Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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