Starbucks Co. (NASDAQ:SBUX) Shares Bought by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,842 shares of the coffee company’s stock after purchasing an additional 258 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Starbucks were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after purchasing an additional 387,632 shares during the period. State Street Corp grew its position in shares of Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after purchasing an additional 135,644 shares during the period. Morgan Stanley grew its position in shares of Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after purchasing an additional 8,451,599 shares during the period. Northern Trust Corp grew its position in shares of Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after purchasing an additional 232,031 shares during the period. Finally, Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at $1,222,931,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Stifel Nicolaus lowered their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Wedbush reissued a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, BTIG Research lowered their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Trading Up 0.2 %

NASDAQ SBUX traded up $0.20 on Friday, hitting $87.35. 6,542,834 shares of the stock traded hands, compared to its average volume of 8,383,759. The stock has a 50-day moving average of $91.14 and a 200 day moving average of $94.42. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a market capitalization of $98.90 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97.

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

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

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.