Sciencast Management LP Buys 8,221 Shares of Starbucks Co. (NASDAQ:SBUX)

Sciencast Management LP raised its stake in Starbucks Co. (NASDAQ:SBUX) by 82.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,154 shares of the coffee company’s stock after acquiring an additional 8,221 shares during the period. Starbucks comprises about 1.0% of Sciencast Management LP’s investment portfolio, making the stock its 26th largest position. Sciencast Management LP’s holdings in Starbucks were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Starbucks by 6.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 174,278 shares of the coffee company’s stock valued at $15,927,000 after purchasing an additional 10,097 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Starbucks by 3.4% in the 1st quarter. Empirical Finance LLC now owns 41,803 shares of the coffee company’s stock worth $3,820,000 after acquiring an additional 1,384 shares in the last quarter. Gallacher Capital Management LLC grew its position in Starbucks by 49.6% during the 1st quarter. Gallacher Capital Management LLC now owns 6,989 shares of the coffee company’s stock worth $639,000 after acquiring an additional 2,318 shares during the last quarter. Advisory Services Network LLC increased its holdings in Starbucks by 20.1% during the 1st quarter. Advisory Services Network LLC now owns 60,025 shares of the coffee company’s stock valued at $5,486,000 after purchasing an additional 10,048 shares in the last quarter. Finally, Oxbow Advisors LLC raised its position in Starbucks by 7.6% in the 1st quarter. Oxbow Advisors LLC now owns 6,850 shares of the coffee company’s stock valued at $626,000 after purchasing an additional 483 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX stock traded up $1.53 during mid-day trading on Friday, hitting $74.83. 10,551,872 shares of the company were exchanged, compared to its average volume of 10,379,763. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The firm’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $86.59. The firm has a market cap of $84.76 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.58 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 company had revenue of $8.56 billion during 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 company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.05%. Starbucks’s payout ratio is presently 62.81%.

Insider Buying and Selling at Starbucks

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBUX shares. Wells Fargo & Company decreased their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley lowered their price objective on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI reduced their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $93.75.

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.