Cypress Wealth Services LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cypress Wealth Services LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,092 shares of the coffee company’s stock after buying an additional 512 shares during the period. Cypress Wealth Services LLC’s holdings in Starbucks were worth $557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orca Investment Management LLC increased its stake in Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC grew its stake in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after buying an additional 13,372 shares during the last quarter. Summa Corp. bought a new position in shares of Starbucks during the fourth quarter valued at about $384,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Starbucks during the fourth quarter valued at about $2,781,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.3 %

NASDAQ:SBUX traded down $1.04 during mid-day trading on Friday, hitting $78.20. 4,775,495 shares of the stock traded hands, compared to its average volume of 10,380,431. The stock has a market capitalization of $88.58 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The firm’s 50 day moving average is $80.02 and its two-hundred day moving average is $88.29.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.92%. Starbucks’s payout ratio is 62.81%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on 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 sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Starbucks in a research note on Thursday, June 13th. Stifel Nicolaus reduced their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler reduced their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.54.

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.