Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lifted its position in Starbucks Co. (NASDAQ:SBUX) by 32.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,089 shares of the coffee company’s stock after purchasing an additional 7,316 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Starbucks were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Naviter Wealth LLC raised its position in Starbucks by 22.6% during the first quarter. Naviter Wealth LLC now owns 16,561 shares of the coffee company’s stock worth $1,514,000 after acquiring an additional 3,050 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Starbucks during the first quarter worth $46,000. Cullinan Associates Inc. raised its position in Starbucks by 19.7% during the first quarter. Cullinan Associates Inc. now owns 151,313 shares of the coffee company’s stock worth $13,828,000 after acquiring an additional 24,869 shares during the period. Allspring Global Investments Holdings LLC raised its position in Starbucks by 95.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock worth $28,542,000 after acquiring an additional 152,849 shares during the period. Finally, Stewart & Patten Co. LLC raised its position in Starbucks by 15.9% during the first quarter. Stewart & Patten Co. LLC now owns 136,563 shares of the coffee company’s stock worth $12,480,000 after acquiring an additional 18,688 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. HSBC dropped 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. Jefferies Financial Group dropped their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Finally, DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Friday, May 3rd. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.54.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

NASDAQ SBUX opened at $76.26 on Thursday. The firm’s 50-day moving average is $79.22 and its two-hundred day moving average is $87.66. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The stock has a market capitalization of $86.38 billion, a P/E ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the company earned $0.74 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. Starbucks’s dividend payout ratio is presently 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.