Columbus Macro LLC Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Columbus Macro LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,437 shares of the coffee company’s stock after purchasing an additional 947 shares during the quarter. Columbus Macro LLC’s holdings in Starbucks were worth $588,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vima LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. raised its stake in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new position in Starbucks in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group lowered their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Evercore ISI reduced their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company lowered their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, HSBC dropped their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Hold” and a consensus target price of $95.00.

View Our Latest Stock Report on SBUX

Starbucks Trading Down 0.6 %

Shares of SBUX stock traded down $0.45 on Tuesday, reaching $79.28. 15,925,579 shares of the stock were exchanged, compared to its average volume of 10,422,717. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.74 and a beta of 0.97. The business’s 50 day moving average price is $80.28 and its 200 day moving average price is $88.48. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Starbucks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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