6,695 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 6,695 shares of the coffee company’s stock, valued at approximately $623,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its position in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the period. Metis Global Partners LLC boosted its position in Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC purchased a new position in Starbucks in the 4th quarter valued at about $794,000. Insigneo Advisory Services LLC boosted its position in Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after buying an additional 3,570 shares during the last quarter. Finally, Motco boosted its position in Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after buying an additional 811 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Citigroup reduced their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Wedbush reaffirmed a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Up 0.4 %

NASDAQ:SBUX traded up $0.35 during trading hours on Wednesday, reaching $88.22. 2,741,232 shares of the company’s stock were exchanged, compared to its average volume of 8,350,563. The company has a market capitalization of $99.88 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The business’s 50-day simple moving average is $90.68 and its two-hundred day simple moving average is $94.39.

Starbucks (NASDAQ:SBUX) last issued its 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). The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 7,000 shares of company stock valued at $629,738. Company 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.