5,159 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Kraft Davis & Associates LLC

Kraft Davis & Associates LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,159 shares of the coffee company’s stock, valued at approximately $479,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter worth about $1,222,931,000. Moneta Group Investment Advisors LLC lifted its position in shares of Starbucks by 115,334.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley grew its stake in Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the period. Flossbach Von Storch AG increased its holdings in Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Starbucks in the 1st quarter worth $190,270,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.5 %

Starbucks stock traded up $0.46 during trading on Friday, hitting $87.61. The company had a trading volume of 11,898,220 shares, compared to its average volume of 8,456,940. The stock has a market cap of $99.19 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The company’s 50 day simple moving average is $90.94 and its 200-day simple moving average is $94.39.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s dividend payout ratio is presently 60.96%.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler reduced their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Citigroup lowered their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday. Finally, Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.68.

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.