Ramsay Stattman Vela & Price Inc. Has $5.73 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Ramsay Stattman Vela & Price Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 77,120 shares of the coffee company’s stock after acquiring an additional 1,215 shares during the period. Starbucks comprises 2.1% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 28th largest holding. Ramsay Stattman Vela & Price Inc.’s holdings in Starbucks were worth $5,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Cipher Capital LP acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $2,261,000. Mark Sheptoff Financial Planning LLC acquired a new position in Starbucks in the fourth quarter valued at $32,000. Mackay Shields LLC boosted its holdings in Starbucks by 55.0% in the fourth quarter. Mackay Shields LLC now owns 625,131 shares of the coffee company’s stock valued at $40,259,000 after purchasing an additional 221,699 shares during the last quarter. Hamel Associates Inc. boosted its holdings in Starbucks by 2.6% in the first quarter. Hamel Associates Inc. now owns 53,480 shares of the coffee company’s stock valued at $3,976,000 after purchasing an additional 1,375 shares during the last quarter. Finally, HL Financial Services LLC lifted its holdings in Starbucks by 2.1% during the 1st quarter. HL Financial Services LLC now owns 213,984 shares of the coffee company’s stock worth $15,908,000 after buying an additional 4,398 shares during the last quarter. 71.67% of the stock is owned by institutional investors and hedge funds.

In other Starbucks news, insider John Culver sold 63,937 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. 3.98% of the stock is owned by insiders.

Several research firms recently commented on SBUX. Wells Fargo & Co cut Starbucks from an “outperform” rating to a “market perform” rating and lowered their target price 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. BMO Capital Markets increased their price objective on Starbucks from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Wedbush reiterated a “hold” rating and issued a $70.00 price objective on shares of Starbucks in a research note on Thursday, April 18th. Piper Jaffray Companies lifted their price objective on Starbucks from $77.00 to $82.00 and gave the company a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $74.37.

Shares of SBUX stock traded up $0.83 during trading hours on Wednesday, hitting $83.20. 1,695,654 shares of the company’s stock traded hands, compared to its average volume of 9,579,985. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $83.33. The company has a debt-to-equity ratio of 7.73, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market capitalization of $99.90 billion, a P/E ratio of 34.38, a PEG ratio of 2.31 and a beta of 0.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 9th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.73%. The ex-dividend date was Wednesday, May 8th. Starbucks’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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