Starbucks Co. (NASDAQ:SBUX) Shares Bought by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 48.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,470 shares of the coffee company’s stock after acquiring an additional 5,075 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Starbucks were worth $1,485,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Flossbach Von Storch AG raised its stake in Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after buying an additional 2,684,470 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Starbucks in the 3rd quarter valued at approximately $147,125,000. Nordea Investment Management AB boosted its stake in shares of Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Starbucks by 32.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,679,621 shares of the coffee company’s stock worth $427,109,000 after acquiring an additional 1,154,020 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on SBUX shares. Citigroup decreased their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. BMO Capital Markets dropped their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Piper Sandler decreased their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.68.

Starbucks Price Performance

Starbucks stock traded down $0.91 during midday trading on Thursday, reaching $87.84. The stock had a trading volume of 6,824,753 shares, compared to its average volume of 8,392,070. The firm’s fifty day simple moving average is $90.57 and its two-hundred day simple moving average is $94.35. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s payout ratio is 60.96%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 7,250 shares of company stock worth $651,738 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

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.