Starbucks Co. (NASDAQ:SBUX) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 8.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 28,103 shares of the coffee company’s stock after purchasing an additional 2,267 shares during the period. First Trust Direct Indexing L.P.’s holdings in Starbucks were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Orca Investment Management LLC increased its position in Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the period. Cerity Partners LLC lifted its holdings in Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares during the period. Cox Capital Mgt LLC lifted its holdings in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after acquiring an additional 13,372 shares during the period. Summa Corp. acquired a new stake in Starbucks in the fourth quarter valued at $384,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Starbucks in the fourth quarter valued at $2,781,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SBUX shares. Wells Fargo & Company reduced their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Piper Sandler reduced their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. UBS Group reduced their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Bank of America raised their target price on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and an average price target of $94.54.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.7 %

Shares of SBUX opened at $76.26 on Friday. The stock has a 50 day simple moving average of $78.74 and a 200-day simple moving average of $87.50. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The stock has a market cap of $86.38 billion, a PE ratio of 21.01, a PEG ratio of 1.67 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

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.