Cullinan Associates Inc. Has $13.83 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cullinan Associates Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 151,313 shares of the coffee company’s stock after purchasing an additional 24,869 shares during the period. Cullinan Associates Inc.’s holdings in Starbucks were worth $13,828,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Waverly Advisors LLC raised its stake in Starbucks by 15.7% in the third quarter. Waverly Advisors LLC now owns 5,343 shares of the coffee company’s stock valued at $488,000 after buying an additional 726 shares during the period. SRS Capital Advisors Inc. raised its stake in Starbucks by 5.4% in the third quarter. SRS Capital Advisors Inc. now owns 4,258 shares of the coffee company’s stock valued at $389,000 after buying an additional 219 shares during the period. Insigneo Advisory Services LLC raised its stake in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after buying an additional 3,570 shares during the period. Truist Financial Corp increased its stake in shares of Starbucks by 9.0% during the third quarter. Truist Financial Corp now owns 861,789 shares of the coffee company’s stock worth $78,656,000 after purchasing an additional 71,181 shares during the period. Finally, First National Bank of Omaha bought a new position in shares of Starbucks during the third quarter worth approximately $2,214,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other 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 value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were 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 of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock valued at $878,893. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SBUX shares. Wedbush reiterated a “neutral” rating and set a $81.00 target price on shares of Starbucks in a research note on Friday. Piper Sandler lowered their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Jefferies Financial Group lowered their price objective on Starbucks from $94.00 to $84.00 and set a “hold” 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 data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $94.54.

Starbucks Stock Down 0.9 %

SBUX traded down $0.67 during midday trading on Tuesday, hitting $76.46. 2,124,663 shares of the company were exchanged, compared to its average volume of 10,353,155. The firm has a market capitalization of $86.61 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.70 and a beta of 0.94. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The firm’s 50 day moving average price is $79.66 and its 200-day moving average price is $87.95.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS 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 analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share 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 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.