Cetera Advisor Networks LLC Acquires 23,574 Shares of Starbucks Co. (NASDAQ:SBUX)

Cetera Advisor Networks LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,681 shares of the coffee company’s stock after acquiring an additional 23,574 shares during the period. Cetera Advisor Networks LLC’s holdings in Starbucks were worth $25,469,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Starbucks in the 4th quarter worth about $26,000. Vima LLC purchased a new position in Starbucks during the 4th quarter valued at $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter valued at $27,000. Fairman Group LLC purchased a new stake in Starbucks in the fourth quarter worth $30,000. Finally, Cypress Capital Management LLC WY lifted its position in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Guggenheim reduced 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. Wells Fargo & Company lowered their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. TD Cowen cut their price target on Starbucks from $85.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Wedbush upped their price objective on shares of Starbucks from $77.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.88.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.77 during mid-day trading on Friday, hitting $75.88. The stock had a trading volume of 15,185,688 shares, compared to its average volume of 13,858,536. The firm has a market cap of $85.99 billion, a PE ratio of 20.90, a PEG ratio of 1.74 and a beta of 0.94. The company has a 50 day moving average of $77.62 and a two-hundred day moving average of $84.66. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.55 EPS 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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Starbucks Company 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.