Burney Co. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Burney Co. grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,154 shares of the coffee company’s stock after acquiring an additional 300 shares during the quarter. Burney Co.’s holdings in Starbucks were worth $288,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SBUX. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in Starbucks in the fourth quarter valued at about $27,000. Fairman Group LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $30,000. Finally, Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Friday, May 3rd. Wedbush increased their price target on Starbucks from $77.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI lowered Starbucks from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $92.00 to $80.00 in a research report on Tuesday, July 16th. Piper Sandler dropped their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Finally, Barclays reduced their price target on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.88.

Starbucks Stock Performance

Shares of SBUX opened at $75.88 on Friday. The company has a market capitalization of $85.95 billion, a PE ratio of 20.90, a PEG ratio of 1.74 and a beta of 0.94. The company’s 50 day moving average price is $77.62 and its 200 day moving average price is $84.61. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 in the company, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $579,375 over the last three months. Corporate 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.