Starbucks Co. (NASDAQ:SBUX) Stock Position Lifted by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,272 shares of the coffee company’s stock after buying an additional 1,023 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Starbucks were worth $2,492,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SBUX. Rathbones Group PLC raised its holdings in shares of Starbucks by 11.3% during the 3rd quarter. Rathbones Group PLC now owns 60,011 shares of the coffee company’s stock valued at $5,477,000 after purchasing an additional 6,108 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Starbucks by 1,654.4% in the third quarter. V Square Quantitative Management LLC now owns 2,000 shares of the coffee company’s stock worth $183,000 after buying an additional 1,886 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Starbucks by 40.5% in the third quarter. Clearbridge Investments LLC now owns 1,324,578 shares of the coffee company’s stock worth $120,894,000 after buying an additional 381,577 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Starbucks by 8.9% during the 3rd quarter. LPL Financial LLC now owns 1,378,408 shares of the coffee company’s stock worth $125,807,000 after acquiring an additional 112,986 shares in the last quarter. Finally, Rodgers Brothers Inc. increased its holdings in shares of Starbucks by 1.2% during the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX traded up $0.15 during mid-day trading on Friday, reaching $79.87. The company had a trading volume of 13,949,589 shares, compared to its average volume of 10,303,576. The company has a market capitalization of $90.47 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.75 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The company’s 50-day moving average is $80.49 and its 200-day moving average is $88.83.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.85%. Starbucks’s payout ratio is 62.81%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BTIG Research decreased their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Bank of America lifted their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Friday, May 3rd. Finally, Evercore ISI cut their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Activity

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

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.