Hillsdale Investment Management Inc. Purchases 180 Shares of Starbucks Co. (NASDAQ:SBUX)

Hillsdale Investment Management Inc. lifted its position in Starbucks Co. (NASDAQ:SBUX) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,269 shares of the coffee company’s stock after acquiring an additional 180 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Starbucks were worth $314,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. Riggs Asset Managment Co. Inc. boosted its stake in shares of Starbucks by 1,578.9% during 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 in the last quarter. Cypress Capital Management LLC WY boosted its position in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Evolution Advisers Inc. bought a new position in shares of Starbucks in the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. bought a new position in shares of Starbucks in the 4th quarter worth $38,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $77.72 on Wednesday. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The firm has a market capitalization of $88.03 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.67 and a beta of 0.97. The stock has a 50 day moving average of $84.79 and a 200 day moving average of $92.22.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Analysts forecast that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Announces Dividend

The company 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was 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 in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 3,750 shares of company stock valued at $322,675. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler cut their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. BMO Capital Markets cut their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen cut their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, HSBC reduced their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.43.

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.