Meeder Asset Management Inc. Increases Position in Starbucks Co. (NASDAQ:SBUX)


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Meeder Asset Management Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 492.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 59,095 shares of the coffee company’s stock after buying an additional 49,114 shares during the period. Meeder Asset Management Inc.’s holdings in Starbucks were worth $6,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Regent Peak Wealth Advisors LLC raised its stake in Starbucks by 1.3% during the first quarter. Regent Peak Wealth Advisors LLC now owns 17,275 shares of the coffee company’s stock worth $1,887,000 after purchasing an additional 230 shares during the period. NN Investment Partners Holdings N.V. raised its stake in Starbucks by 14.1% during the first quarter. NN Investment Partners Holdings N.V. now owns 235,232 shares of the coffee company’s stock worth $25,704,000 after purchasing an additional 29,000 shares during the period. JustInvest LLC raised its stake in Starbucks by 42.1% during the first quarter. JustInvest LLC now owns 17,081 shares of the coffee company’s stock worth $1,866,000 after purchasing an additional 5,063 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC raised its stake in Starbucks by 6.2% during the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 8,564 shares of the coffee company’s stock worth $995,000 after purchasing an additional 500 shares during the period. Finally, Spearhead Capital Advisors LLC raised its stake in Starbucks by 13.9% during the first quarter. Spearhead Capital Advisors LLC now owns 74,104 shares of the coffee company’s stock worth $8,097,000 after purchasing an additional 9,030 shares during the period. 67.27% of the stock is currently owned by institutional investors and hedge funds.

SBUX has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on shares of Starbucks from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group raised their price target on shares of Starbucks from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a report on Sunday, January 31st. BTIG Research raised shares of Starbucks from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a report on Monday, March 22nd. Finally, Morgan Stanley raised their price target on shares of Starbucks from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and a consensus target price of $120.80.

In related news, CEO Kevin R. Johnson sold 170,000 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $111.07, for a total value of $18,881,900.00. Following the sale, the chief executive officer now owns 515,934 shares of the company’s stock, valued at $57,304,789.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin R. Johnson sold 153,290 shares of the company’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $109.12, for a total transaction of $16,727,004.80. The disclosure for this sale can be found here. Insiders have sold 406,184 shares of company stock valued at $44,685,798 in the last ninety days. 0.41% of the stock is owned by company insiders.

Starbucks stock traded down $1.46 on Tuesday, reaching $114.26. 179,051 shares of the stock were exchanged, compared to its average volume of 6,440,893. The stock has a market cap of $134.52 billion, a PE ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82. Starbucks Co. has a twelve month low of $70.65 and a twelve month high of $118.98. The firm has a fifty day moving average price of $112.30 and a two-hundred day moving average price of $103.39.

Starbucks (NASDAQ:SBUX) last released its earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.10. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.75 billion. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts anticipate that Starbucks Co. will post 2.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Thursday, May 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, May 12th. Starbucks’s dividend payout ratio is currently 153.85%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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