Cooper Financial Group Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Cooper Financial Group raised its stake in Starbucks Co. (NASDAQ:SBUX) by 9.0% during the 1st quarter, HoldingsChannel reports. The firm owned 7,910 shares of the coffee company’s stock after acquiring an additional 654 shares during the quarter. Cooper Financial Group’s holdings in Starbucks were worth $723,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. increased its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Jefferies Financial Group dropped their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were 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 in the company, valued at $5,234,480. 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 three months. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $79.98 on Monday. The stock has a market capitalization of $90.59 billion, a P/E ratio of 22.01, a P/E/G 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 business’s fifty day moving average is $80.39 and its two-hundred day moving average is $88.60.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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). The company had revenue of $8.56 billion during 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%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. On average, research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Starbucks 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.