Cooper Financial Group Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cooper Financial Group raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,910 shares of the coffee company’s stock after acquiring an additional 654 shares during the period. Cooper Financial Group’s holdings in Starbucks were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Starbucks Stock Up 0.1 %

Shares of NASDAQ:SBUX opened at $79.98 on Monday. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock has a market cap of $90.59 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.74 and a beta of 0.96. The business has a 50-day moving average price of $80.39 and a 200-day moving average price of $88.60.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SBUX shares. Bank of America increased their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group cut their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup cut their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock worth $878,893 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

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.