AIA Group Ltd Purchases 3,305 Shares of Starbucks Co. (NASDAQ:SBUX)

AIA Group Ltd increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,639 shares of the coffee company’s stock after acquiring an additional 3,305 shares during the period. AIA Group Ltd’s holdings in Starbucks were worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Vima LLC purchased a new position in Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Fairman Group LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. UBS Group cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price target for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. HSBC dropped their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Finally, Wedbush reissued a “neutral” rating and set a $81.00 price target on shares of Starbucks in a research report on Friday, June 28th. Seventeen investment 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 has a consensus rating of “Hold” and a consensus price target of $93.75.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is owned by insiders.

Starbucks Stock Up 2.1 %

Shares of NASDAQ SBUX traded up $1.53 during trading on Friday, reaching $74.83. 10,551,872 shares of the company traded hands, compared to its average volume of 10,379,763. The firm has a 50 day simple moving average of $77.87 and a 200-day simple moving average of $86.59. The stock has a market capitalization of $84.76 billion, a PE ratio of 20.61, a P/E/G ratio of 1.58 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, research analysts predict that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Starbucks Company 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.