Banque Cantonale Vaudoise decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX – Free Report) by 26.1% in the fourth quarter, Holdings Channel reports. The firm owned 21,225 shares of the coffee company’s stock after selling 7,514 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Starbucks were worth $1,787,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its stake in Starbucks by 38.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 409 shares of the coffee company’s stock worth $34,000 after purchasing an additional 113 shares during the period. Larson Financial Group LLC lifted its stake in Starbucks by 3.0% during the fourth quarter. Larson Financial Group LLC now owns 34,353 shares of the coffee company’s stock worth $2,893,000 after purchasing an additional 1,006 shares during the period. Stolz & Associates PS bought a new position in Starbucks during the fourth quarter worth about $729,000. McKinley Carter Wealth Services Inc. lifted its stake in Starbucks by 4.4% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 25,057 shares of the coffee company’s stock worth $2,110,000 after purchasing an additional 1,053 shares during the period. Finally, Profund Advisors LLC lifted its stake in Starbucks by 5.9% during the fourth quarter. Profund Advisors LLC now owns 105,721 shares of the coffee company’s stock worth $8,903,000 after purchasing an additional 5,874 shares during the period. Institutional investors own 72.29% of the company’s stock.
Starbucks Trading Down 2.2%
NASDAQ SBUX opened at $104.13 on Friday. The firm has a market cap of $118.68 billion, a price-to-earnings ratio of 78.89, a PEG ratio of 2.15 and a beta of 1.01. The company has a 50 day moving average of $98.62 and a 200-day moving average of $93.03. Starbucks Corporation has a 1-year low of $77.99 and a 1-year high of $108.88.
Starbucks Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.4%. Starbucks’s dividend payout ratio (DPR) is currently 187.88%.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Starbucks in a research note on Thursday, May 14th. They set a “buy” rating for the company. Stephens assumed coverage on shares of Starbucks in a research note on Thursday, May 14th. They set an “overweight” rating for the company. UBS Group cut shares of Starbucks from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $115.00 price objective (up from $110.00) on shares of Starbucks in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.48.
Read Our Latest Stock Analysis on SBUX
Key Stories Impacting Starbucks
Here are the key news stories impacting Starbucks this week:
- Positive Sentiment: Starbucks announced CEO Brian Niccol and CFO Cathy Smith will host a fireside chat at the Bernstein 42nd Annual Strategic Decisions Conference on May 28, giving investors another opportunity to hear updated strategy and turnaround progress. Starbucks to Participate in the Bernstein 42nd Annual Strategic Decisions Conference
- Positive Sentiment: Starbucks completed a cash tender offer to refine its debt profile, a move that can improve financial flexibility and strengthen the balance sheet. Starbucks Completes Cash Tender Offer, Refines Debt Profile
- Neutral Sentiment: Starbucks is drawing attention for its summer menu rollout and new promotions, which could help seasonal traffic but are not yet a clear earnings catalyst. Starbucks drops another summer surprise as competition heats up
- Neutral Sentiment: Analyst-style coverage comparing Starbucks to retail and wholesale peers is mostly informational and does not appear to be driving a major stock-specific move. Starbucks’ China JV Shift Reshapes Revenue and Margin Outlook
- Negative Sentiment: Starbucks said it is cutting another 300 jobs and taking about $400 million in restructuring charges as part of a $2 billion cost-reduction push, highlighting the cost of its turnaround. Starbucks Cuts Another 300 Jobs Amid $2 Billion Cost Reduction Push
- Negative Sentiment: Environmental reporting alleging Starbucks’ “widely recyclable” cold cups often end up in trash could hurt brand perception and invite more criticism around sustainability claims. Widely Recyclable Cold Cups Seldom Reach Recycling, Study Finds, and Starbucks Stock Pays the Price
- Negative Sentiment: Reports that Starbucks’ China JV shift will reduce reported revenue in China, even if it boosts margins and adds cash, may pressure near-term sales expectations. Starbucks’ China JV Shift Reshapes Revenue and Margin Outlook
Insider Buying and Selling
In related news, EVP Sara Kelly sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the sale, the executive vice president owned 57,653 shares of the company’s stock, valued at $6,053,565. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $104.81, for a total transaction of $233,621.49. Following the completion of the sale, the chief executive officer directly owned 81,559 shares of the company’s stock, valued at approximately $8,548,198.79. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,187 shares of company stock valued at $1,111,085. 0.03% of the stock is currently owned by company insiders.
Starbucks Profile
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
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