Starbucks Co. (NASDAQ:SBUX) Stake Lifted by Jacobs & Co. CA

Jacobs & Co. CA lifted its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 153,656 shares of the coffee company’s stock after acquiring an additional 4,183 shares during the quarter. Starbucks comprises about 1.5% of Jacobs & Co. CA’s investment portfolio, making the stock its 19th largest position. Jacobs & Co. CA’s holdings in Starbucks were worth $14,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of SBUX. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $26,000. Vima LLC bought a new position in shares of Starbucks during the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Fairman Group LLC bought a new stake in Starbucks in the fourth quarter worth $30,000. Finally, Riggs Asset Managment Co. Inc. increased its position 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 buying an additional 300 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on 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 directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Evercore ISI cut their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $95.00.

Check Out Our Latest Stock Analysis on SBUX

Starbucks Price Performance

Shares of SBUX traded down $0.23 during mid-day trading on Tuesday, hitting $79.50. 1,521,469 shares of the company’s stock were exchanged, compared to its average volume of 10,303,675. The company has a 50-day simple moving average of $80.28 and a 200 day simple moving average of $88.48. The company has a market cap of $90.05 billion, a PE ratio of 21.96, a P/E/G ratio of 1.74 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Starbucks 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.

Read More

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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