US Bancorp DE boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,018,372 shares of the coffee company’s stock after acquiring an additional 9,107 shares during the period. US Bancorp DE owned about 0.09% of Starbucks worth $111,276,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of SBUX. Hoover Financial Advisors Inc. acquired a new position in Starbucks during the fourth quarter worth $26,000. Oxler Private Wealth LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $32,000. Clark Financial Advisors purchased a new stake in shares of Starbucks during the fourth quarter worth $33,000. Phoenix Wealth Advisors purchased a new stake in shares of Starbucks during the fourth quarter worth $39,000. Finally, Brand Asset Management Group Inc. grew its holdings in shares of Starbucks by 53.3% during the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the coffee company’s stock worth $41,000 after buying an additional 131 shares in the last quarter. Institutional investors own 67.27% of the company’s stock.
Shares of SBUX traded down $0.84 during mid-day trading on Tuesday, hitting $114.88. 91,039 shares of the company’s stock were exchanged, compared to its average volume of 6,440,893. The stock’s 50-day moving average is $112.30 and its 200-day moving average is $103.39. The company has a market cap of $135.25 billion, a price-to-earnings ratio of 150.29, a P/E/G ratio of 2.67 and a beta of 0.82. Starbucks Co. has a fifty-two week low of $70.65 and a fifty-two week high of $118.98.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $1.80 annualized dividend and a yield of 1.57%. Starbucks’s dividend payout ratio (DPR) is 153.85%.
A number of equities research analysts have recently issued reports on the stock. Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a report on Sunday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $97.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. Royal Bank of Canada upped their price objective on shares of Starbucks from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays upped their price objective on shares of Starbucks from $137.00 to $140.00 in a report on Wednesday, April 28th. Finally, Argus upped their price objective on shares of Starbucks from $116.00 to $132.00 and gave the company a “buy” rating in a report on Monday, April 19th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $120.80.
In other Starbucks news, EVP Rachel A. Gonzalez sold 82,894 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the sale, the chief executive officer now directly owns 515,934 shares in the company, valued at approximately $57,304,789.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 406,184 shares of company stock worth $44,685,798. 0.41% of the stock is owned by corporate insiders.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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