HTLF Bank Invests $5.34 Million in Starbucks Co. (NASDAQ:SBUX)

HTLF Bank bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 55,633 shares of the coffee company’s stock, valued at approximately $5,341,000.

Other large investors have also bought and sold shares of the company. Cerity Partners LLC raised its holdings in 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 purchasing an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in Starbucks in the fourth quarter valued at approximately $794,000. Insigneo Advisory Services LLC boosted its stake in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after acquiring an additional 3,570 shares during the last quarter. Finally, Motco lifted its stake in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after purchasing an additional 811 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.0 %

Shares of SBUX traded up $0.01 during trading hours on Friday, hitting $87.16. 4,181,400 shares of the company were exchanged, compared to its average volume of 8,346,164. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The company has a market cap of $98.68 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.39 and a beta of 0.97. The firm’s fifty day moving average is $91.14 and its 200 day moving average is $94.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup cut their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. 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 report on Friday, January 19th. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, January 16th. Morgan Stanley cut their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $107.43.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by insiders.

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.