Benjamin F. Edwards & Company Inc. Purchases 78,885 Shares of Starbucks Co. (NASDAQ:SBUX)

Benjamin F. Edwards & Company Inc. grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 277.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,293 shares of the coffee company’s stock after buying an additional 78,885 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Starbucks were worth $10,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Willow Creek Wealth Management Inc. boosted its position in Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. boosted its holdings in shares of Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its position in Starbucks by 4.6% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares during the period. Herold Advisors Inc. increased its holdings in Starbucks by 4.3% during the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after buying an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. raised its position in Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday. BTIG Research decreased their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.38.

Starbucks Stock Down 2.4 %

Shares of NASDAQ SBUX traded down $1.82 during mid-day trading on Friday, reaching $73.11. 22,115,226 shares of the company were exchanged, compared to its average volume of 9,469,554. Starbucks Co. has a 52 week low of $72.67 and a 52 week high of $108.12. The company’s 50 day moving average price is $89.34 and its 200 day moving average price is $93.98. The stock has a market capitalization of $82.81 billion, a PE ratio of 20.14, a PEG ratio of 1.28 and a beta of 0.97.

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). The firm 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%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3.89 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 62.81%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 7,250 shares of company stock valued at $651,738 over the last three months. 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.