Mirador Capital Partners LP Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Mirador Capital Partners LP grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,916 shares of the coffee company’s stock after acquiring an additional 200 shares during the period. Mirador Capital Partners LP’s holdings in Starbucks were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Francis Financial Inc. raised its position in shares of Starbucks by 21.3% during the first quarter. Francis Financial Inc. now owns 2,706 shares of the coffee company’s stock valued at $247,000 after buying an additional 476 shares during the last quarter. Arlington Financial Advisors LLC lifted its stake in Starbucks by 4.5% in the 1st quarter. Arlington Financial Advisors LLC now owns 33,322 shares of the coffee company’s stock worth $3,045,000 after purchasing an additional 1,432 shares in the last quarter. Deltec Asset Management LLC bought a new position in shares of Starbucks during the 1st quarter valued at about $1,024,000. Cornerstone Wealth Group LLC grew its position in shares of Starbucks by 46.0% during the first quarter. Cornerstone Wealth Group LLC now owns 6,049 shares of the coffee company’s stock valued at $553,000 after purchasing an additional 1,906 shares in the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of Starbucks by 5.5% in the first quarter. River Street Advisors LLC now owns 13,207 shares of the coffee company’s stock worth $1,207,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling 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 value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

NASDAQ:SBUX opened at $77.13 on Tuesday. The firm has a 50-day simple moving average of $79.66 and a 200-day simple moving average of $87.95. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The firm has a market cap of $87.37 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.70 and a beta of 0.94.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.96%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SBUX. UBS Group dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler lowered their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Stifel Nicolaus lowered their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.54.

Starbucks 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.