Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Milestone Asset Management LLC

Milestone Asset Management LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 31.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,613 shares of the coffee company’s stock after purchasing an additional 865 shares during the period. Milestone Asset Management LLC’s holdings in Starbucks were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vima LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the 4th quarter valued at $27,000. Fairman Group LLC acquired a new position in Starbucks during the 4th quarter worth $30,000. Finally, Cypress Capital Management LLC WY grew its stake in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Bank of America upped their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Finally, BMO Capital Markets cut their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.79.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on 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 directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,540 shares of company stock worth $1,165,514. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $92.30 on Tuesday. The company has a 50 day simple moving average of $78.44 and a 200-day simple moving average of $83.85. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $104.55 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors 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 2.47%. Starbucks’s payout ratio is 62.81%.

Starbucks 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.