Perennial Advisors LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Perennial Advisors LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 0.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 54,411 shares of the coffee company’s stock after purchasing an additional 340 shares during the period. Perennial Advisors LLC’s holdings in Starbucks were worth $4,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the fourth quarter worth $27,000. Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new position in Starbucks during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Starbucks in a report on Thursday, June 13th. Stifel Nicolaus dropped their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group lowered their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Guggenheim lowered their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.48 during trading hours on Thursday, hitting $79.72. 10,180,025 shares of the company’s stock were exchanged, compared to its average volume of 10,272,606. The business’s 50 day moving average is $80.49 and its 200-day moving average is $88.83. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The firm has a market capitalization of $90.30 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the company posted $0.74 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.86%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is owned by company 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.