MV Capital Management Inc. Has $2.42 Million Stake in Starbucks Co. (NASDAQ:SBUX)

MV Capital Management Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,131 shares of the coffee company’s stock after buying an additional 2,750 shares during the quarter. MV Capital Management Inc.’s holdings in Starbucks were worth $2,418,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Exchange Capital Management Inc. boosted its holdings in Starbucks by 7.4% during the first quarter. Exchange Capital Management Inc. now owns 36,290 shares of the coffee company’s stock valued at $3,965,000 after acquiring an additional 2,513 shares during the period. Pettyjohn Wood & White Inc. boosted its holdings in Starbucks by 23.7% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,818 shares of the coffee company’s stock valued at $1,692,000 after acquiring an additional 3,035 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Starbucks by 3.1% during the first quarter. Kestra Private Wealth Services LLC now owns 51,628 shares of the coffee company’s stock valued at $5,641,000 after acquiring an additional 1,534 shares during the period. Cerity Partners LLC lifted its stake in shares of Starbucks by 3.0% in the fourth quarter. Cerity Partners LLC now owns 115,593 shares of the coffee company’s stock valued at $12,366,000 after buying an additional 3,360 shares during the period. Finally, Fundsmith Long Short Master Fund bought a new stake in shares of Starbucks in the fourth quarter valued at about $5,441,000. 68.65% of the stock is currently owned by hedge funds and other institutional investors.

In other Starbucks news, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $111.07, for a total value of $18,881,900.00. Following the transaction, the chief executive officer now directly owns 515,934 shares of the company’s stock, valued at $57,304,789.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin R. Johnson sold 153,290 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $109.12, for a total transaction of $16,727,004.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,184 shares of company stock worth $44,685,798. Insiders own 0.36% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Monday, May 3rd. Cowen increased their target price on shares of Starbucks from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Royal Bank of Canada increased their target price on shares of Starbucks from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Barclays increased their target price on shares of Starbucks from $137.00 to $140.00 in a research note on Wednesday, April 28th. Finally, BMO Capital Markets raised their price target on shares of Starbucks from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $120.80.

Shares of Starbucks stock traded up $0.18 during midday trading on Friday, reaching $112.39. The company had a trading volume of 23,257 shares, compared to its average volume of 6,173,307. The firm has a market cap of $132.32 billion, a P/E ratio of 133.67, a price-to-earnings-growth ratio of 3.15 and a beta of 0.88. The company’s fifty day moving average is $113.42. Starbucks Co. has a 1-year low of $71.06 and a 1-year high of $118.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.75 billion. Starbucks had a net margin of 4.18% and a negative return on equity of 18.94%. Starbucks’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. Analysts anticipate that Starbucks Co. will post 2.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Starbucks’s payout ratio is presently 153.85%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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