Sciencast Management LP Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Sciencast Management LP boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 82.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,154 shares of the coffee company’s stock after buying an additional 8,221 shares during the quarter. Starbucks makes up about 1.0% of Sciencast Management LP’s holdings, making the stock its 26th biggest position. Sciencast Management LP’s holdings in Starbucks were worth $1,659,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SBUX. Orca Investment Management LLC grew its stake in Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the period. Cerity Partners LLC grew its position in shares of 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 purchasing an additional 1,281,471 shares during the period. Cox Capital Mgt LLC increased its stake 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 purchasing an additional 13,372 shares during the last quarter. Summa Corp. purchased a new position in Starbucks during the fourth quarter worth about $384,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Starbucks in the 4th quarter worth about $2,781,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 over the last quarter. 1.98% of the stock is owned by corporate insiders.

Starbucks Trading Up 2.1 %

SBUX stock traded up $1.53 during midday trading on Friday, hitting $74.83. 10,551,872 shares of the company’s stock were exchanged, compared to its average volume of 10,379,763. The firm has a 50 day moving average price of $77.87 and a 200-day moving average price of $86.59. 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 $84.76 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94.

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

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and issued a $81.00 price target on shares of Starbucks in a report on Friday, June 28th. Wells Fargo & Company cut their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.75.

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.