Assetmark Inc. Acquires 12,089 Shares of Starbucks Co. (NASDAQ:SBUX)

Assetmark Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,372 shares of the coffee company’s stock after purchasing an additional 12,089 shares during the period. Assetmark Inc.’s holdings in Starbucks were worth $9,157,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. raised its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Cypress Capital Management LLC WY lifted its holdings 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 worth $31,000 after purchasing an additional 185 shares in the last quarter. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Evolution Advisers Inc. bought a new stake in Starbucks during the 4th quarter valued at $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Starbucks during the fourth quarter worth $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 3,750 shares of company stock valued at $322,675 in the last three months. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Citigroup lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. BTIG Research lowered their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley dropped their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $96.43.

Starbucks Price Performance

Shares of SBUX stock opened at $80.45 on Thursday. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The company’s fifty day simple moving average is $84.58 and its two-hundred day simple moving average is $92.14. The stock has a market capitalization of $91.13 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.68 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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). 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 period last year, the company posted $0.74 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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.