Chesley Taft & Associates LLC Purchases 500 Shares of Starbucks Co. (NASDAQ:SBUX)

Chesley Taft & Associates LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,206 shares of the coffee company’s stock after purchasing an additional 500 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Starbucks were worth $6,782,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC purchased a new position in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group decreased their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Piper Sandler decreased their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus decreased their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.00.

View Our Latest Stock Analysis on SBUX

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was 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 directly 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 news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is owned by insiders.

Starbucks Stock Up 0.1 %

Shares of NASDAQ SBUX traded up $0.08 during mid-day trading on Thursday, reaching $79.24. 10,284,147 shares of the company were exchanged, compared to its average volume of 10,424,243. The stock has a market cap of $89.75 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The firm has a 50-day moving average of $80.02 and a 200 day moving average of $88.29.

Starbucks (NASDAQ:SBUXGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

About Starbucks

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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