Oakworth Capital Inc. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Oakworth Capital Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,254 shares of the coffee company’s stock after purchasing an additional 350 shares during the period. Oakworth Capital Inc.’s holdings in Starbucks were worth $408,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. grew its position in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares during the period. Investment Advisory Services Inc. TX ADV grew its holdings in Starbucks by 0.7% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after buying an additional 100 shares during the period. Valley Brook Capital Group Inc. grew its holdings in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after buying an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. increased its stake in shares of Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after acquiring an additional 100 shares during the last quarter. Finally, Herold Advisors Inc. lifted its holdings in shares of Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.9 %

NASDAQ:SBUX opened at $86.21 on Thursday. The business’s 50 day moving average is $91.33 and its two-hundred day moving average is $94.47. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The company has a market cap of $97.61 billion, a PE ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 7,250 shares of company stock worth $653,183. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SBUX shares. BTIG Research dropped their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Citigroup decreased their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.43.

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.