St. Johns Investment Management Company LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

St. Johns Investment Management Company LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,734 shares of the coffee company’s stock after buying an additional 945 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Starbucks were worth $981,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth $27,000. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC purchased a new position in shares of Starbucks in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

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 transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock valued at $878,893 over the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.2 %

Shares of NASDAQ SBUX opened at $79.15 on Thursday. The firm’s 50-day moving average price is $80.16 and its two-hundred day moving average price is $88.36. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock has a market capitalization of $89.65 billion, a P/E ratio of 21.80, a P/E/G ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the business earned $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. 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. Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Finally, Wedbush lowered their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.00.

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.