Hohimer Wealth Management LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Hohimer Wealth Management LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.9% in the first quarter, HoldingsChannel.com reports. The firm owned 4,756 shares of the coffee company’s stock after buying an additional 544 shares during the period. Hohimer Wealth Management LLC’s holdings in Starbucks were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after buying an additional 1,041,622 shares during the last quarter. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC boosted its holdings in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after acquiring an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after acquiring an additional 27,496 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 3.8 %

Shares of NASDAQ:SBUX traded up $2.76 during trading 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 business has a fifty day moving average price of $77.87 and a 200-day moving average price of $86.31. The stock has a market cap of $85.53 billion, a P/E ratio of 20.26, a PEG ratio of 1.64 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 firm had revenue of $8.56 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities analysts forecast that Starbucks Co. will post 3.58 EPS for the current 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 given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on 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 directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on 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 directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were 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 of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $601,375 over the last 90 days. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group lowered their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus lowered their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Jefferies Financial Group reduced their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Starbucks in a research note on Thursday, June 13th. Finally, Robert W. Baird reduced their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $93.08.

About Starbucks

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.