Legacy Financial Advisors Inc. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,709 shares of the coffee company’s stock after acquiring an additional 322 shares during the period. Legacy Financial Advisors Inc.’s holdings in Starbucks were worth $515,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Hoover Financial Advisors Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Oxler Private Wealth LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $32,000. Clark Financial Advisors bought a new position in shares of Starbucks in the 4th quarter valued at about $33,000. Phoenix Wealth Advisors bought a new position in shares of Starbucks in the 4th quarter valued at about $39,000. Finally, Brand Asset Management Group Inc. raised its holdings in Starbucks by 53.3% during the 1st quarter. Brand Asset Management Group Inc. now owns 377 shares of the coffee company’s stock worth $41,000 after buying an additional 131 shares during the period. 67.27% of the stock is owned by institutional investors and hedge funds.
SBUX opened at $115.72 on Tuesday. The company has a 50-day moving average of $112.30 and a 200-day moving average of $103.39. The company has a market capitalization of $136.24 billion, a P/E ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82. Starbucks Co. has a 1-year low of $70.65 and a 1-year high of $118.98.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.56%. Starbucks’s dividend payout ratio is 153.85%.
In other Starbucks news, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the sale, the chief executive officer now directly owns 515,934 shares in the company, valued at approximately $57,304,789.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rachel A. Gonzalez sold 82,894 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares in the company, valued at $8,640,097.50. The disclosure for this sale can be found here. Insiders sold a total of 406,184 shares of company stock worth $44,685,798 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on SBUX shares. Stifel Nicolaus upped their target price on Starbucks from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. Telsey Advisory Group raised their price target on Starbucks from $108.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, March 23rd. Piper Sandler raised their price objective on Starbucks from $100.00 to $104.00 in a report on Wednesday, January 27th. Jefferies Financial Group lifted their price target on Starbucks from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Cowen upped their price objective on Starbucks from $120.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $120.80.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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