Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,277 shares of the coffee company’s stock after purchasing an additional 797 shares during the period. Capital Group Private Client Services Inc.’s holdings in Starbucks were worth $5,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the period. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC raised its position in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Starbucks by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. TD Cowen reduced their target price on Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Evercore ISI lowered shares of Starbucks from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $92.00 to $80.00 in a research note on Tuesday, July 16th. Finally, Citigroup reduced their price objective on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.71.

Insider Buying and Selling

In other 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 value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.73 during trading hours on Friday, hitting $74.05. The stock had a trading volume of 12,384,122 shares, compared to its average volume of 10,694,470. The stock’s fifty day simple moving average is $77.88 and its 200 day simple moving average is $85.24. The firm has a market capitalization of $83.88 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.69 and a beta of 0.94. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, research analysts anticipate that Starbucks Co. will post 3.57 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.08%. Starbucks’s dividend 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.