Federated Hermes Inc. Purchases 12,495 Shares of Starbucks Co. (NASDAQ:SBUX)

Federated Hermes Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,595 shares of the coffee company’s stock after acquiring an additional 12,495 shares during the period. Federated Hermes Inc.’s holdings in Starbucks were worth $6,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC increased its holdings in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of Starbucks in the 4th quarter worth $38,000. Tennessee Valley Asset Management Partners bought a new position in shares of Starbucks in the 4th quarter worth $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of Starbucks in the 4th quarter worth $40,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $87.84 on Friday. The firm has a market cap of $99.45 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.49 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a 50-day simple moving average of $90.46 and a two-hundred day simple moving average of $94.30.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBUX. TD Cowen reissued a “hold” rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, January 16th. Piper Sandler cut their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Stifel Nicolaus cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, Morgan Stanley cut their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $106.68.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last 90 days. 1.98% of the stock is currently owned by insiders.

Starbucks Company Profile

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.