214,137 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Sapient Capital LLC

Sapient Capital LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 214,137 shares of the coffee company’s stock, valued at approximately $20,559,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Raymond James Financial Services Advisors Inc. grew its holdings in Starbucks by 1.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock worth $59,142,000 after acquiring an additional 8,374 shares during the period. Simon Quick Advisors LLC boosted its position in Starbucks by 7.9% during the third quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock worth $335,000 after purchasing an additional 269 shares in the last quarter. Stratos Wealth Advisors LLC boosted its position in Starbucks by 38.5% during the third quarter. Stratos Wealth Advisors LLC now owns 9,015 shares of the coffee company’s stock worth $823,000 after purchasing an additional 2,506 shares in the last quarter. Horst & Graben Wealth Management LLC boosted its position in Starbucks by 2.7% during the third quarter. Horst & Graben Wealth Management LLC now owns 5,261 shares of the coffee company’s stock worth $480,000 after purchasing an additional 137 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in Starbucks by 1.9% during the third quarter. Baker Ellis Asset Management LLC now owns 5,859 shares of the coffee company’s stock worth $535,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 2.4 %

Starbucks stock traded down $1.82 during mid-day trading on Friday, hitting $73.11. 22,153,770 shares of the company’s stock traded hands, compared to its average volume of 12,042,146. The firm has a 50 day moving average price of $88.89 and a 200 day moving average price of $93.84. The company has a market cap of $82.81 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97. Starbucks Co. has a one year low of $72.67 and a one year high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its 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 business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, analysts expect that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler decreased their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Morgan Stanley decreased 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. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday. Jefferies Financial Group reduced their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, HSBC reduced their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.09.

Starbucks 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.