Grandfield & Dodd LLC Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Grandfield & Dodd LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 178.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,909 shares of the coffee company’s stock after buying an additional 3,786 shares during the period. Grandfield & Dodd LLC’s holdings in Starbucks were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Willow Creek Wealth Management Inc. lifted its position in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after buying an additional 97 shares in the last quarter. First National Trust Co lifted its holdings in Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares in the last quarter. Quent Capital LLC lifted its holdings in Starbucks by 2.8% in the 4th quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock valued at $384,000 after purchasing an additional 108 shares in the last quarter. Graybill Wealth Management LTD. lifted its holdings in Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares in the last quarter. Finally, Omega Financial Group LLC lifted its holdings in Starbucks by 3.2% in the 4th quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock valued at $347,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.1 %

NASDAQ SBUX traded up $0.79 during trading on Thursday, hitting $73.30. The stock had a trading volume of 12,285,015 shares, compared to its average volume of 10,378,351. The firm has a 50 day moving average price of $77.84 and a 200 day moving average price of $86.74. The company has a market capitalization of $83.03 billion, a PE ratio of 20.19, a PEG ratio of 1.63 and a beta of 0.94. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus decreased 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. Guggenheim reduced their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Evercore ISI reduced their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Citigroup reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Wedbush reiterated a “neutral” rating and set a $81.00 price target on shares of Starbucks in a report on Friday, June 28th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.46.

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.