Ferguson Wellman Capital Management Inc. Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Ferguson Wellman Capital Management Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUXGet Rating) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,232 shares of the coffee company’s stock after purchasing an additional 200 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $2,921,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBUX. Vanguard Group Inc. raised its holdings in shares of Starbucks by 2.8% during the first quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock valued at $9,225,691,000 after acquiring an additional 2,733,608 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Starbucks by 10.3% during the fourth quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after acquiring an additional 7,672,037 shares during the last quarter. State Street Corp raised its holdings in shares of Starbucks by 3.5% during the fourth quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock valued at $5,672,559,000 after acquiring an additional 1,649,721 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Starbucks by 28.0% during the first quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock valued at $995,996,000 after acquiring an additional 2,395,500 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Starbucks during the fourth quarter valued at approximately $1,189,240,000. Institutional investors and hedge funds own 67.97% of the company’s stock.

Starbucks Trading Down 4.4 %

Shares of SBUX opened at $84.70 on Friday. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $117.80. The stock’s 50 day moving average is $86.02 and its two-hundred day moving average is $81.48. The firm has a market capitalization of $97.18 billion, a PE ratio of 23.86, a P/E/G ratio of 2.39 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the previous year, the company earned $1.01 EPS. On average, sell-side analysts predict that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is 55.21%.

Insider Transactions at Starbucks

In other news, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the purchase, the director now directly owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Zabrina Jenkins sold 4,020 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the sale, the executive vice president now owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mellody L. Hobson acquired 54,750 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the transaction, the director now directly owns 433,254 shares in the company, valued at $40,110,655.32. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Robert W. Baird increased their price target on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, September 14th. Morgan Stanley increased their price target on Starbucks from $88.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Finally, Stephens initiated coverage on Starbucks in a research report on Thursday. They issued an “equal weight” rating for the company. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.71.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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