Objectivity Squared LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Objectivity Squared LLC bought a new position in Starbucks Co. (NASDAQ:SBUXFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,290 shares of the coffee company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Nomura Asset Management Co. Ltd. lifted its position in shares of Starbucks by 0.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 326,278 shares of the coffee company’s stock valued at $29,779,000 after buying an additional 2,790 shares in the last quarter. Pinnacle Financial Partners Inc raised its stake in Starbucks by 10.0% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 32,148 shares of the coffee company’s stock valued at $2,934,000 after purchasing an additional 2,910 shares during the period. Achmea Investment Management B.V. raised its stake in Starbucks by 4.7% during the 3rd quarter. Achmea Investment Management B.V. now owns 99,626 shares of the coffee company’s stock valued at $9,093,000 after purchasing an additional 4,517 shares during the period. Ieq Capital LLC raised its stake in Starbucks by 1.1% during the 3rd quarter. Ieq Capital LLC now owns 80,704 shares of the coffee company’s stock valued at $7,366,000 after purchasing an additional 839 shares during the period. Finally, Forum Financial Management LP raised its stake in Starbucks by 3.5% during the 3rd quarter. Forum Financial Management LP now owns 6,688 shares of the coffee company’s stock valued at $610,000 after purchasing an additional 229 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBUX shares. BTIG Research decreased their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. HSBC cut their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Guggenheim dropped their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group lowered their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.43.

Check Out Our Latest Research Report on SBUX

Starbucks Stock Up 0.7 %

Shares of NASDAQ SBUX traded up $0.56 during midday trading on Friday, hitting $78.87. The stock had a trading volume of 10,744,425 shares, compared to its average volume of 10,282,116. The company has a market capitalization of $89.34 billion, a PE ratio of 21.64, a P/E/G ratio of 1.76 and a beta of 0.97. The stock has a 50 day simple moving average of $84.31 and a 200-day simple moving average of $92.05. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly 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). 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 prior year, the business posted $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.89%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 7,750 shares of company stock worth $642,050 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Starbucks Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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