Sanders Morris Harris LLC Purchases 363 Shares of Starbucks Co. (NASDAQ:SBUX)

Sanders Morris Harris LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,363 shares of the coffee company’s stock after purchasing an additional 363 shares during the period. Sanders Morris Harris LLC’s holdings in Starbucks were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SBUX. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new position in Starbucks in the fourth quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SBUX shares. HSBC cut their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. BTIG Research decreased their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and dropped their target price for the stock from $108.00 to $89.00 in a research report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, UBS Group dropped their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, 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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 0.2 %

Shares of NASDAQ SBUX traded up $0.19 during trading hours on Friday, hitting $79.91. The company had a trading volume of 25,650,612 shares, compared to its average volume of 9,221,270. The stock has a market capitalization of $90.51 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The firm’s 50 day moving average is $80.39 and its 200-day moving average is $88.66.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

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

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.