S.E.E.D. Planning Group LLC Has $1.77 Million Stake in Starbucks Co. (NASDAQ:SBUX)

S.E.E.D. Planning Group LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,321 shares of the coffee company’s stock after buying an additional 5,409 shares during the quarter. S.E.E.D. Planning Group LLC’s holdings in Starbucks were worth $1,766,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBUX. Operose Advisors LLC acquired a new position in Starbucks during the third quarter valued at approximately $53,000. CWA Asset Management Group LLC lifted its stake in Starbucks by 9.9% in the third quarter. CWA Asset Management Group LLC now owns 3,341 shares of the coffee company’s stock valued at $305,000 after buying an additional 300 shares in the last quarter. Teza Capital Management LLC lifted its stake in Starbucks by 2,154.0% in the third quarter. Teza Capital Management LLC now owns 58,017 shares of the coffee company’s stock valued at $5,295,000 after buying an additional 55,443 shares in the last quarter. Nine27 Capital Management LP bought a new position in Starbucks in the third quarter valued at approximately $9,127,000. Finally, Corton Capital Inc. bought a new position in Starbucks in the third quarter valued at approximately $467,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler cut their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. BTIG Research dropped their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Wedbush reaffirmed a “neutral” rating and set a $81.00 price target on shares of Starbucks in a research report on Friday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.54.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

SBUX traded down $1.39 on Friday, hitting $77.85. 13,207,542 shares of the stock were exchanged, compared to its average volume of 10,825,160. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The business has a 50-day moving average of $79.66 and a two-hundred day moving average of $88.09. The firm has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.93%. Starbucks’s dividend payout ratio is 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.