G&S Capital LLC Boosts Position in Starbucks Co. (NASDAQ:SBUX)

G&S Capital LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 30,410 shares of the coffee company’s stock after acquiring an additional 603 shares during the period. Starbucks comprises approximately 1.2% of G&S Capital LLC’s investment portfolio, making the stock its 22nd biggest position. G&S Capital LLC’s holdings in Starbucks were worth $2,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Brookstone Capital Management raised its holdings in Starbucks by 18.7% in the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after purchasing an additional 3,516 shares during the period. Benin Management CORP increased its position in Starbucks by 76.0% in the first quarter. Benin Management CORP now owns 19,058 shares of the coffee company’s stock worth $1,742,000 after buying an additional 8,227 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Starbucks by 282.5% during the 1st quarter. Sound Income Strategies LLC now owns 9,520 shares of the coffee company’s stock valued at $870,000 after buying an additional 7,031 shares in the last quarter. Thompson Investment Management Inc. grew its stake in shares of Starbucks by 25.3% during the 1st quarter. Thompson Investment Management Inc. now owns 48,860 shares of the coffee company’s stock valued at $4,465,000 after acquiring an additional 9,878 shares during the period. Finally, Columbus Macro LLC raised its stake in Starbucks by 17.2% during the 1st quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock worth $588,000 after acquiring an additional 947 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $79.15 on Thursday. The firm has a market capitalization of $89.65 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.73 and a beta of 0.96. The business has a 50 day simple moving average of $80.16 and a 200-day simple moving average of $88.36. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (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 during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.88%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly 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 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. JPMorgan Chase & Co. cut 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. Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.