Ashton Thomas Private Wealth LLC Acquires 9,691 Shares of Starbucks Co. (NASDAQ:SBUX)

Ashton Thomas Private Wealth LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 24.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after buying an additional 1,041,622 shares in the last quarter. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter worth $1,240,652,000. Fisher Asset Management LLC increased its holdings in shares of Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after buying an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Starbucks by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after buying an additional 27,496 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after purchasing an additional 166,010 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction 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 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 SEC, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was 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 owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. decreased their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and decreased their price objective for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Piper Sandler decreased their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Jefferies Financial Group cut their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Finally, Citigroup cut their price target 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. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $94.54.

Starbucks Trading Down 1.1 %

Shares of SBUX stock traded down $0.82 during trading hours on Friday, hitting $75.44. 1,697,749 shares of the company were exchanged, compared to its average volume of 10,295,558. The firm has a fifty day simple moving average of $78.74 and a 200 day simple moving average of $87.50. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock has a market capitalization of $85.45 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.67 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) 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 company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.02%. 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.