Avantax Advisory Services Inc. Has $5.65 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Avantax Advisory Services Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 61,856 shares of the coffee company’s stock after purchasing an additional 5,805 shares during the period. Avantax Advisory Services Inc.’s holdings in Starbucks were worth $5,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at $1,240,652,000. Flossbach Von Storch AG grew its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Starbucks by 2,624.3% during the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after buying an additional 2,071,378 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Starbucks by 342.7% in the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $601,375 over the last 90 days. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. UBS Group reduced their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Citigroup lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.08.

Starbucks Trading Up 3.8 %

Shares of SBUX stock traded up $2.76 during trading hours on Tuesday, reaching $75.51. The stock had a trading volume of 14,956,592 shares, compared to its average volume of 10,403,953. The firm has a market capitalization of $85.53 billion, a PE ratio of 20.26, a PEG ratio of 1.64 and a beta of 0.94. The stock’s fifty day simple moving average is $77.87 and its 200 day simple moving average is $86.31. Starbucks Co. has a 12 month low of $71.55 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 analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for 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%. Starbucks’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.02%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.