Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Norden Group LLC

Norden Group LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,571 shares of the coffee company’s stock after acquiring an additional 1,682 shares during the quarter. Norden Group LLC’s holdings in Starbucks were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its position in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Cypress Capital Management LLC WY boosted its position in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the period. Atticus Wealth Management LLC lifted its stake in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks in the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks in the fourth quarter valued at $38,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX traded up $0.29 during trading on Tuesday, reaching $88.62. 4,883,393 shares of the stock were exchanged, compared to its average volume of 8,334,738. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The company has a market capitalization of $100.34 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.48 and a beta of 0.98. The business’s 50 day moving average price is $90.27 and its two-hundred day moving average price is $94.27.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. On average, analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SBUX shares. BTIG Research reduced their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wedbush decreased their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday. Jefferies Financial Group cut their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Stephens reiterated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus dropped their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $106.55.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

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.