Starbucks Co. (NASDAQ:SBUX) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its stake in Starbucks Co. (NASDAQ:SBUX) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,004 shares of the coffee company’s stock after acquiring an additional 314 shares during the period. Legacy Financial Advisors Inc.’s holdings in Starbucks were worth $768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Vanguard Group Inc. boosted its holdings in Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares in the last quarter. Fisher Asset Management LLC boosted its position in Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the period. Invesco Ltd. increased its holdings in Starbucks by 11.8% in the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after purchasing an additional 1,115,051 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after buying an additional 1,591,206 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 2.4 %

Shares of NASDAQ SBUX traded down $1.82 during midday trading on Friday, reaching $73.11. The company’s stock had a trading volume of 22,153,770 shares, compared to its average volume of 12,042,146. Starbucks Co. has a one year low of $72.67 and a one year high of $108.12. The company has a market cap of $82.81 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The company has a 50 day moving average price of $88.89 and a 200 day moving average price of $93.84.

Starbucks (NASDAQ:SBUX) last released 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). 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 for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 3.69 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.12%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. TD Cowen dropped their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, January 16th. Evercore ISI reduced their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.09.

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.