Mather Group LLC. Has $1.65 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Mather Group LLC. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,214 shares of the coffee company’s stock after purchasing an additional 2,575 shares during the quarter. Mather Group LLC.’s holdings in Starbucks were worth $1,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SBUX. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Vima LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. Fairman Group LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Cypress Capital Management LLC WY raised its position 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 valued at $31,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 2.0 %

Shares of NASDAQ:SBUX traded up $1.51 during midday trading on Tuesday, hitting $75.37. The stock had a trading volume of 10,519,625 shares, compared to its average volume of 10,875,823. The company has a market cap of $85.41 billion, a P/E ratio of 20.76, a PEG ratio of 1.76 and a beta of 0.94. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The business’s 50-day simple moving average is $77.51 and its 200-day simple moving average is $84.42.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,250 shares of company stock worth $579,375. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, Bank of America boosted their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus target price of $90.88.

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.