Sfmg LLC Purchases 912 Shares of Starbucks Co. (NASDAQ:SBUX)

Sfmg LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,840 shares of the coffee company’s stock after purchasing an additional 912 shares during the quarter. Sfmg LLC’s holdings in Starbucks were worth $3,537,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BCK Partners Inc. acquired a new stake in Starbucks during the 1st quarter worth approximately $2,640,000. American Century Companies Inc. raised its holdings in shares of Starbucks by 7.3% during the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after acquiring an additional 1,872 shares during the period. Roundview Capital LLC lifted its position in Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after acquiring an additional 1,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Starbucks in the 1st quarter worth $198,000. Finally, Mather Group LLC. grew its holdings in shares of Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after buying an additional 3,017 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays decreased their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Wedbush reiterated a “neutral” rating and set a $95.00 target price on shares of Starbucks in a report on Wednesday, January 31st. JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Morgan Stanley lowered their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, TD Cowen reissued a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a report on Thursday, April 11th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus target price of $107.43.

Starbucks Price Performance

Starbucks stock traded up $0.45 during mid-day trading on Wednesday, reaching $85.87. 2,071,221 shares of the company were exchanged, compared to its average volume of 8,302,570. The company has a fifty day simple moving average of $91.51 and a 200-day simple moving average of $94.53. The firm has a market cap of $97.22 billion, a PE ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS 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 period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.66%. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 4,000 shares of company stock worth $375,665 over the last three months. Insiders own 1.98% of the company’s stock.

About Starbucks

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.