Brookstone Capital Management Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Brookstone Capital Management raised its position in Starbucks Co. (NASDAQ:SBUX) by 18.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,345 shares of the coffee company’s stock after purchasing an additional 3,516 shares during the period. Brookstone Capital Management’s holdings in Starbucks were worth $2,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Benin Management CORP grew its stake in Starbucks by 76.0% during the 1st quarter. Benin Management CORP now owns 19,058 shares of the coffee company’s stock valued at $1,742,000 after acquiring an additional 8,227 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Starbucks by 282.5% in the first quarter. Sound Income Strategies LLC now owns 9,520 shares of the coffee company’s stock valued at $870,000 after purchasing an additional 7,031 shares in the last quarter. Thompson Investment Management Inc. increased its holdings in shares of Starbucks by 25.3% in the first quarter. Thompson Investment Management Inc. now owns 48,860 shares of the coffee company’s stock valued at $4,465,000 after purchasing an additional 9,878 shares during the last quarter. Columbus Macro LLC lifted its position in Starbucks by 17.2% during the first quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock worth $588,000 after buying an additional 947 shares in the last quarter. Finally, Beech Hill Advisors Inc. boosted its stake in Starbucks by 119.8% during the first quarter. Beech Hill Advisors Inc. now owns 43,703 shares of the coffee company’s stock worth $3,994,000 after buying an additional 23,820 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $77.85 on Friday. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96. The business has a fifty day moving average price of $79.66 and a 200 day moving average price of $88.09. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share 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 firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The company 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 dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 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 can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. HSBC reduced their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Morgan Stanley decreased their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, May 3rd. Bank of America upped their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Jefferies Financial Group cut their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.54.

About Starbucks

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.