Cohen Investment Advisors LLC Has $2.14 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cohen Investment Advisors LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.9% during the first quarter, HoldingsChannel reports. The fund owned 23,398 shares of the coffee company’s stock after acquiring an additional 3,725 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Starbucks were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Orca Investment Management LLC lifted its holdings in Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares during the period. Cox Capital Mgt LLC grew its position in shares of Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the period. Summa Corp. acquired a new position in shares of Starbucks in the 4th quarter valued at $384,000. Finally, Brevan Howard Capital Management LP bought a new position in Starbucks during the 4th quarter worth approximately $2,781,000. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

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

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.57 during midday trading on Thursday, hitting $76.26. The company had a trading volume of 4,906,747 shares, compared to its average volume of 10,392,467. The company has a market cap of $86.38 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94. The company has a fifty day moving average of $78.97 and a two-hundred day moving average of $87.58. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued 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). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Research analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Analyst Ratings Changes

A number of brokerages recently commented on SBUX. Bank of America upped their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group lowered their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. UBS Group dropped their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley cut their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Guggenheim decreased their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.54.

Starbucks 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.