TCG Advisory Services LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

TCG Advisory Services LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 200.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,146 shares of the coffee company’s stock after acquiring an additional 8,775 shares during the period. TCG Advisory Services LLC’s holdings in Starbucks were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HSBC lowered their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday. Piper Sandler dropped their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Wedbush decreased their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.09.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on 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 in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 2.4 %

SBUX traded down $1.82 during trading hours on Friday, hitting $73.11. 22,153,770 shares of the company’s stock were exchanged, compared to its average volume of 12,042,146. The firm has a market cap of $82.81 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 12-month low of $72.67 and a 12-month high of $108.12. The firm has a 50 day moving average of $88.89 and a 200 day moving average of $93.84.

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 analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. As a group, research analysts expect that Starbucks Co. will post 3.69 EPS for the current fiscal year.

Starbucks Announces Dividend

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

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.