Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Key Financial Inc

Key Financial Inc boosted its position in Starbucks Co. (NASDAQ:SBUX) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,153 shares of the coffee company’s stock after acquiring an additional 150 shares during the quarter. Key Financial Inc’s holdings in Starbucks were worth $245,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Starbucks during the 4th quarter worth about $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the first quarter valued at approximately $415,167,000. Flossbach Von Storch AG raised its holdings 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 purchasing an additional 2,897,282 shares in the last quarter. Capital World Investors acquired a new stake in Starbucks during the first quarter worth approximately $257,721,000. Finally, Van ECK Associates Corp lifted its position in shares of Starbucks by 2,624.3% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock traded down $0.29 during trading on Friday, reaching $94.57. 7,114,395 shares of the company were exchanged, compared to its average volume of 12,037,227. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a market cap of $107.12 billion, a P/E ratio of 26.05, a PEG ratio of 2.28 and a beta of 0.94. The stock’s 50 day moving average price is $80.76 and its 200 day moving average price is $83.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders 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 yield of 2.41%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBUX. Morgan Stanley reissued an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,790 shares of company stock worth $865,514. Insiders own 1.98% of the company’s stock.

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.