Kraft Davis & Associates LLC Makes New $479,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Kraft Davis & Associates LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,159 shares of the coffee company’s stock, valued at approximately $479,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after purchasing an additional 387,632 shares during the period. State Street Corp raised its stake in Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after purchasing an additional 135,644 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after acquiring an additional 8,451,599 shares during the period. Northern Trust Corp lifted its stake in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Starbucks during the 4th quarter worth $1,222,931,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.46 during trading hours on Friday, hitting $87.61. The company’s stock had a trading volume of 11,898,220 shares, compared to its average volume of 8,456,940. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The stock has a market cap of $99.19 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.39 and a beta of 0.97. The business has a 50-day simple moving average of $90.94 and a 200-day simple moving average of $94.39.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm posted $0.75 earnings per share. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on SBUX shares. BTIG Research lowered their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Stifel Nicolaus dropped their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Guggenheim decreased their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Morgan Stanley cut their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $106.68.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 7,250 shares of company stock worth $653,183 over the last 90 days. 1.98% of the stock is owned by company insiders.

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.