Starbucks Co. (NASDAQ:SBUX) Shares Purchased by SlateStone Wealth LLC

SlateStone Wealth LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,523 shares of the coffee company’s stock after purchasing an additional 3,134 shares during the quarter. SlateStone Wealth LLC’s holdings in Starbucks were worth $3,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Starbucks in the 3rd quarter worth approximately $147,125,000. Nordea Investment Management AB boosted its holdings in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares during the period. Cerity Partners LLC boosted its holdings in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Starbucks by 32.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,679,621 shares of the coffee company’s stock worth $427,109,000 after acquiring an additional 1,154,020 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,000 shares of company stock valued at $629,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

SBUX stock traded down $0.24 during trading hours on Wednesday, hitting $87.63. 619,697 shares of the stock traded hands, compared to its average volume of 8,319,888. The stock has a 50-day simple moving average of $90.68 and a 200 day simple moving average of $94.39. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The company has a market cap of $99.21 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.44 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Stephens reiterated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. JPMorgan Chase & Co. dropped their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Finally, Jefferies Financial Group dropped their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday, April 16th. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average target price of $106.68.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.