Symphony Financial Ltd. Co. Has $402,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Symphony Financial Ltd. Co. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,397 shares of the coffee company’s stock after purchasing an additional 182 shares during the period. Symphony Financial Ltd. Co.’s holdings in Starbucks were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vima LLC bought a new position in Starbucks during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter valued at $27,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Fairman Group LLC bought a new stake in Starbucks in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBUX. UBS Group reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Citigroup decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. DZ Bank lowered shares of 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. Bank of America upped their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Piper Sandler dropped their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.54.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $1.39 during trading on Friday, reaching $77.85. The stock had a trading volume of 13,207,542 shares, compared to its average volume of 10,825,160. The stock has a market capitalization of $88.18 billion, a PE ratio of 21.45, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The business’s 50-day moving average price is $79.66 and its 200 day moving average price is $88.02.

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 the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

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.