Capital Group Private Client Services Inc. Has $5.78 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Capital Group Private Client Services Inc. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,277 shares of the coffee company’s stock after acquiring an additional 797 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Starbucks were worth $5,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Orca Investment Management LLC lifted its holdings in Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after buying an additional 466 shares during the period. Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the period. Cox Capital Mgt LLC increased its holdings in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Summa Corp. acquired a new position in Starbucks in the fourth quarter valued at about $384,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Starbucks during the fourth quarter worth about $2,781,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

SBUX stock traded up $0.73 during midday trading on Friday, reaching $74.05. 12,384,122 shares of the company were exchanged, compared to its average volume of 10,694,470. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $83.88 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. The business has a 50-day moving average price of $77.88 and a two-hundred day moving average price of $85.24.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS 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 business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, analysts anticipate that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,250 shares of company stock worth $579,375. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBUX shares. BTIG Research reduced their price target 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. JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group reduced their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. DZ Bank lowered 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, May 3rd. Finally, BMO Capital Markets reduced their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus target price of $91.71.

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.