Global Assets Advisory LLC Makes New $3.22 Million Investment in Starbucks Co. (NASDAQ:SBUX)

Global Assets Advisory LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,223 shares of the coffee company’s stock, valued at approximately $3,219,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vima LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $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 valued at $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 valued at approximately $30,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was 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 of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock worth $878,893. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup decreased 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. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Bank of America raised their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Wells Fargo & Company decreased their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $79.73 on Tuesday. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The firm has a market capitalization of $90.31 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.74 and a beta of 0.97. The stock has a 50 day moving average price of $80.28 and a 200-day moving average price of $88.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities analysts forecast that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. Starbucks’s payout ratio is currently 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.