12,985 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Cypress Capital LLC

Cypress Capital LLC acquired a new position in Starbucks Co. (NASDAQ:SBUXGet Rating) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 12,985 shares of the coffee company’s stock, valued at approximately $1,181,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in Starbucks by 10.3% in the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after purchasing an additional 7,672,037 shares in the last quarter. State Street Corp lifted its holdings in Starbucks by 3.5% in the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock valued at $5,672,559,000 after purchasing an additional 1,649,721 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Starbucks by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company’s stock valued at $2,385,035,000 after purchasing an additional 331,190 shares in the last quarter. Fundsmith LLP lifted its holdings in Starbucks by 7.7% in the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock valued at $1,354,132,000 after purchasing an additional 831,723 shares in the last quarter. Finally, Norges Bank purchased a new position in Starbucks in the 4th quarter valued at about $1,189,240,000. 69.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, CEO Howard D. Schultz purchased 72,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was acquired at an average price of $68.85 per share, with a total value of $4,991,625.00. Following the completion of the transaction, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Howard D. Schultz acquired 72,500 shares of Starbucks stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the purchase, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at approximately $1,349,939,196. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard D. Schultz acquired 137,500 shares of Starbucks stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the purchase, the chief executive officer now directly owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBUX shares. Guggenheim cut their price objective on shares of Starbucks from $95.00 to $87.00 in a report on Wednesday, April 13th. Piper Sandler increased their price objective on shares of Starbucks from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. BTIG Research cut their price objective on shares of Starbucks from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. MKM Partners cut their price objective on shares of Starbucks from $105.00 to $98.00 in a report on Wednesday, May 4th. Finally, StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus target price of $102.92.

Starbucks Stock Down 1.3 %

Shares of NASDAQ:SBUX opened at $85.73 on Friday. Starbucks Co. has a 52-week low of $68.39 and a 52-week high of $120.76. The company has a 50 day moving average of $78.88 and a two-hundred day moving average of $83.14. The company has a market capitalization of $98.37 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 2.89 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, August 11th. Starbucks’s payout ratio is currently 55.21%.

Starbucks Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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