Starbucks Co. (NASDAQ:SBUX) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,794 shares of the coffee company’s stock after acquiring an additional 579 shares during the period. Salem Investment Counselors Inc.’s holdings in Starbucks were worth $621,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SBUX. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Starbucks Trading Up 0.2 %

Shares of SBUX stock traded up $0.19 during trading hours on Friday, hitting $79.91. 25,650,612 shares of the company were exchanged, compared to its average volume of 9,221,270. The company has a market capitalization of $90.51 billion, a PE ratio of 22.01, a PEG ratio of 1.74 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The business has a 50 day moving average of $80.39 and a two-hundred day moving average of $88.66.

Starbucks (NASDAQ:SBUX) last released its earnings results 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). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. On average, research analysts forecast that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.85%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBUX. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus decreased their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday, May 3rd. Finally, TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Starbucks in a research note on Thursday, June 13th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.00.

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.