Neo Ivy Capital Management Purchases New Holdings in Starbucks Co. (NASDAQ:SBUX)
Neo Ivy Capital Management purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,384 shares of the coffee company’s stock, valued at approximately $561,000.
Several other institutional investors and hedge funds have also modified their holdings of SBUX. Regal Wealth Group Inc. lifted its stake in Starbucks by 210.7% during the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock worth $28,000 after purchasing an additional 217 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Starbucks by 209.0% in the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after purchasing an additional 232 shares in the last quarter. Tobias Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 4th quarter worth $31,000. Solstein Capital LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $32,000. Finally, Shine Investment Advisory Services Inc. increased its stake in shares of Starbucks by 63.0% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock worth $33,000 after purchasing an additional 143 shares in the last quarter. 69.29% of the stock is owned by institutional investors.
NASDAQ SBUX traded up $2.30 on Tuesday, reaching $73.13. 2,457,649 shares of the company’s stock traded hands, compared to its average volume of 9,472,693. The firm has a market cap of $88.43 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 1.87 and a beta of 0.58. The stock has a 50 day moving average price of $85.97 and a 200-day moving average price of $87.54. Starbucks Co. has a fifty-two week low of $69.14 and a fifty-two week high of $99.72.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.11 billion. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. On average, analysts expect that Starbucks Co. will post 2.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Thursday, February 6th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.64 annualized dividend and a yield of 2.24%. Starbucks’s dividend payout ratio is presently 57.95%.
A number of equities research analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $90.00 price target on shares of Starbucks in a research note on Wednesday, January 29th. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating and set a $93.00 price target for the company. in a research note on Monday, January 6th. Piper Sandler cut their price target on Starbucks from $84.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets reiterated a “market perform” rating and issued a $85.00 price target on shares of Starbucks in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their price target on Starbucks from $95.00 to $93.00 and set an “equal weight” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Starbucks presently has an average rating of “Hold” and a consensus price target of $89.76.
In related news, EVP Lucy Lee Helm sold 18,982 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $88.12, for a total transaction of $374,686.24. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.
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.
Recommended Story: How Do You Make Money With Penny Stocks?
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).
Receive News & Ratings for Starbucks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Starbucks and related companies with MarketBeat.com’s FREE daily email newsletter.
Original Source