Investment Partners Asset Management Inc. Has $355,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Investment Partners Asset Management Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 29.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,883 shares of the coffee company’s stock after acquiring an additional 875 shares during the period. Investment Partners Asset Management Inc.’s holdings in Starbucks were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Starbucks by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after acquiring an additional 1,041,622 shares in the last quarter. Norges Bank acquired a new stake in Starbucks in the fourth quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC boosted its position in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after buying an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after buying an additional 27,496 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after buying an additional 166,010 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.0 %

Shares of NASDAQ SBUX traded up $0.02 during midday trading on Thursday, hitting $79.17. The company’s stock had a trading volume of 5,719,080 shares, compared to its average volume of 10,388,841. The stock has a fifty day moving average price of $80.02 and a 200 day moving average price of $88.29. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The firm has a market capitalization of $89.68 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted 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 the consensus estimate of $9.12 billion. During the same period last year, the company posted $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 paid 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 dividend yield of 2.88%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, 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. In the last 90 days, insiders sold 10,750 shares of company stock valued at $878,893. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. TD Cowen restated a “hold” rating and issued a $85.00 target price on shares of Starbucks in a research report on Thursday, June 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Jefferies Financial Group dropped their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Evercore ISI lowered their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

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.