Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc boosted its position in Starbucks Co. (NASDAQ:SBUX) by 48.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,470 shares of the coffee company’s stock after acquiring an additional 5,075 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Starbucks were worth $1,485,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Syon Capital LLC raised its holdings in Starbucks by 25.8% in the fourth quarter. Syon Capital LLC now owns 10,503 shares of the coffee company’s stock valued at $1,008,000 after acquiring an additional 2,156 shares in the last quarter. Lyell Wealth Management LP increased its stake in Starbucks by 2.3% in the fourth quarter. Lyell Wealth Management LP now owns 57,529 shares of the coffee company’s stock valued at $5,523,000 after purchasing an additional 1,267 shares during the last quarter. Community Bank N.A. increased its stake in Starbucks by 12.0% in the fourth quarter. Community Bank N.A. now owns 12,705 shares of the coffee company’s stock valued at $1,220,000 after purchasing an additional 1,365 shares during the last quarter. BIP Wealth LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $280,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Starbucks by 2.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,049 shares of the coffee company’s stock valued at $3,269,000 after purchasing an additional 797 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. BTIG Research dropped their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Citigroup lowered their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Wedbush restated a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Piper Sandler lowered their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Down 1.0 %

Shares of SBUX traded down $0.91 during trading on Thursday, reaching $87.84. The company’s stock had a trading volume of 6,824,753 shares, compared to its average volume of 8,392,070. The company has a market cap of $99.45 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.48 and a beta of 0.97. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a fifty day moving average of $90.57 and a two-hundred day moving average of $94.35.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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

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.