KMG Fiduciary Partners LLC Has $2.49 Million Position in Starbucks Co. (NASDAQ:SBUX)

KMG Fiduciary Partners LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,272 shares of the coffee company’s stock after acquiring an additional 1,023 shares during the period. KMG Fiduciary Partners LLC’s holdings in Starbucks were worth $2,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Cox Capital Mgt LLC raised its position in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of Starbucks by 26.4% in the first quarter. Banque Cantonale Vaudoise now owns 43,220 shares of the coffee company’s stock valued at $3,950,000 after buying an additional 9,014 shares in the last quarter. Perennial Advisors LLC grew its holdings in shares of Starbucks by 0.6% during the first quarter. Perennial Advisors LLC now owns 54,411 shares of the coffee company’s stock valued at $4,973,000 after buying an additional 340 shares during the last quarter. Stableford Capital II LLC raised its holdings in shares of Starbucks by 7.5% in the 1st quarter. Stableford Capital II LLC now owns 9,946 shares of the coffee company’s stock worth $909,000 after acquiring an additional 693 shares during the last quarter. Finally, Montecito Bank & Trust boosted its holdings in shares of Starbucks by 13.5% in the 1st quarter. Montecito Bank & Trust now owns 7,568 shares of the coffee company’s stock worth $692,000 after buying an additional 901 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SBUX shares. Guggenheim dropped their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Wedbush decreased their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. UBS Group dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Citigroup decreased their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Piper Sandler dropped their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $95.00.

Starbucks Price Performance

SBUX stock traded up $0.15 during mid-day trading on Friday, hitting $79.87. 13,949,589 shares of the stock were exchanged, compared to its average volume of 10,303,576. The business has a fifty day moving average price of $80.49 and a 200 day moving average price of $88.83. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The stock has a market capitalization of $90.47 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.75 and a beta of 0.96.

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). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the business posted $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.85%. Starbucks’s dividend payout ratio is 62.81%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on 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 owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,750 shares of company stock valued at $878,893. Corporate insiders own 1.98% of the company’s stock.

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.