Spearhead Capital Advisors LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)


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Spearhead Capital Advisors LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 13.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 74,104 shares of the coffee company’s stock after buying an additional 9,030 shares during the period. Spearhead Capital Advisors LLC’s holdings in Starbucks were worth $8,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE raised its stake in Starbucks by 0.9% during the first quarter. US Bancorp DE now owns 1,018,372 shares of the coffee company’s stock worth $111,276,000 after purchasing an additional 9,107 shares during the period. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Starbucks by 13.2% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 12,656 shares of the coffee company’s stock worth $1,383,000 after buying an additional 1,472 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Starbucks by 18.0% during the 1st quarter. Park Avenue Securities LLC now owns 56,376 shares of the coffee company’s stock valued at $6,160,000 after buying an additional 8,593 shares during the period. Lindbrook Capital LLC lifted its holdings in Starbucks by 2.0% in the first quarter. Lindbrook Capital LLC now owns 6,757 shares of the coffee company’s stock valued at $738,000 after acquiring an additional 131 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its position in Starbucks by 3.3% in the first quarter. Duncker Streett & Co. Inc. now owns 38,917 shares of the coffee company’s stock worth $4,252,000 after acquiring an additional 1,253 shares during the period. 67.27% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on SBUX shares. Wells Fargo & Company upped their price target on Starbucks from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday. Gordon Haskett raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $100.00 to $120.00 in a research note on Friday, February 5th. Telsey Advisory Group boosted their price target on shares of Starbucks from $108.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, March 23rd. Piper Sandler upped their price objective on shares of Starbucks from $100.00 to $104.00 in a report on Wednesday, January 27th. Finally, Wedbush lifted their target price on shares of Starbucks from $124.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $120.80.

In other Starbucks news, EVP Rachel A. Gonzalez sold 82,894 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the transaction, the executive vice president now owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin R. Johnson sold 170,000 shares of Starbucks stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $111.07, for a total value of $18,881,900.00. Following the sale, the chief executive officer now owns 515,934 shares in the company, valued at approximately $57,304,789.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,184 shares of company stock valued at $44,685,798. 0.41% of the stock is owned by company insiders.

Shares of SBUX traded down $0.95 during midday trading on Tuesday, reaching $114.77. The stock had a trading volume of 100,270 shares, compared to its average volume of 6,440,893. The company has a market cap of $135.12 billion, a price-to-earnings ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82. The company’s fifty day simple moving average is $112.30 and its two-hundred day simple moving average is $103.39. Starbucks Co. has a 1-year low of $70.65 and a 1-year high of $118.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.10. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.75 billion. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. Starbucks’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Research analysts expect that Starbucks Co. will post 2.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, May 12th. Starbucks’s payout ratio is 153.85%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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