Sweeney & Michel LLC Invests $621,000 in Starbucks Co. (NASDAQ:SBUX)

Sweeney & Michel LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,790 shares of the coffee company’s stock, valued at approximately $621,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board bought a new stake in Starbucks during the 1st quarter valued at approximately $415,167,000. Flossbach Von Storch AG raised its stake in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors bought a new stake in Starbucks during the 1st quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp raised its stake in Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research cut their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group cut their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, May 3rd. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.71.

Starbucks Trading Up 1.0 %

Shares of SBUX stock traded up $0.74 on Tuesday, reaching $75.94. 16,055,760 shares of the company’s stock were exchanged, compared to its average volume of 10,730,735. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market capitalization of $86.02 billion, a PE ratio of 20.92, a P/E/G ratio of 1.68 and a beta of 0.94. The company’s fifty day simple moving average is $77.79 and its 200 day simple moving average is $84.89.

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 analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 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 filing with the SEC, which is available at 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 stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was 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 $5,234,480. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock valued at $579,375 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

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.