Starbucks Co. (NASDAQ:SBUX) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 24.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,761 shares of the coffee company’s stock after purchasing an additional 9,691 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Starbucks were worth $4,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LP increased its holdings in shares of Starbucks by 231.7% in the 3rd quarter. Seven Eight Capital LP now owns 92,661 shares of the coffee company’s stock valued at $8,457,000 after purchasing an additional 64,724 shares in the last quarter. Scotia Capital Inc. grew its stake in Starbucks by 9.4% in the 3rd quarter. Scotia Capital Inc. now owns 439,633 shares of the coffee company’s stock valued at $40,127,000 after acquiring an additional 37,686 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in Starbucks by 3.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 439,600 shares of the coffee company’s stock valued at $40,124,000 after acquiring an additional 16,446 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Starbucks in the 3rd quarter valued at about $300,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBUX shares. Piper Sandler lowered their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Robert W. Baird decreased their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. UBS Group decreased their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Guggenheim decreased their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and decreased their price target for the stock from $108.00 to $89.00 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 company. According to data from MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $94.54.

Starbucks Price Performance

SBUX stock traded down $0.82 during midday trading on Friday, reaching $75.44. 1,697,749 shares of the company’s stock traded hands, compared to its average volume of 10,295,558. The company has a market capitalization of $85.45 billion, a P/E ratio of 21.01, a PEG ratio of 1.67 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The business has a 50-day moving average price of $78.74 and a two-hundred day moving average price of $87.50.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 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 firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.02%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,750 shares of company stock worth $878,893. Insiders own 1.98% of the company’s stock.

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.