Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Commerce Bank

Commerce Bank grew its stake in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the 1st quarter, Holdings Channel reports. The firm owned 195,519 shares of the coffee company’s stock after purchasing an additional 5,184 shares during the quarter. Commerce Bank’s holdings in Starbucks were worth $17,868,000 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 SBUX. Scarborough Advisors LLC acquired a new position in Starbucks in the 4th quarter valued at about $26,000. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new position in Starbucks during the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY grew its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ SBUX traded up $0.09 during trading on Wednesday, hitting $72.84. The stock had a trading volume of 5,636,279 shares, compared to its average volume of 10,320,312. The company has a market capitalization of $82.51 billion, a PE ratio of 20.06, a P/E/G ratio of 1.63 and a beta of 0.94. The company’s 50-day moving average price is $77.91 and its two-hundred day moving average price is $86.93. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.13%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 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. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was 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 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 available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s 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 transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and decreased their price target for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Jefferies Financial Group decreased their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. TD Cowen reiterated a “hold” rating and set a $85.00 price target on shares of Starbucks in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $94.46.

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.