Sawyer & Company Inc Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Sawyer & Company Inc increased its stake in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,971 shares of the coffee company’s stock after buying an additional 794 shares during the period. Sawyer & Company Inc’s holdings in Starbucks were worth $2,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter valued at about $1,240,652,000. Fisher Asset Management LLC grew its stake in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after acquiring an additional 268,030 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after purchasing an additional 166,010 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.7 %

Starbucks stock opened at $77.85 on Friday. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The company’s 50-day moving average price is $79.66 and its 200-day moving average price is $88.09. The company has a market cap of $88.18 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96.

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

Starbucks Dividend Announcement

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 given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

A number of analysts have commented on SBUX shares. BTIG Research reduced their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. UBS Group reduced 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. JPMorgan Chase & Co. lowered their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, HSBC reduced their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.54.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’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 transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 over the last three months. 1.98% of the stock is owned by company insiders.

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.