Rehmann Capital Advisory Group Has $1.05 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Rehmann Capital Advisory Group boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 71.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,485 shares of the coffee company’s stock after buying an additional 4,797 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Starbucks were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SBUX. Commerce Bank grew its holdings in Starbucks by 2.7% during the 1st quarter. Commerce Bank now owns 195,519 shares of the coffee company’s stock worth $17,868,000 after acquiring an additional 5,184 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Starbucks by 17.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,757 shares of the coffee company’s stock worth $2,080,000 after acquiring an additional 3,450 shares during the last quarter. Boomfish Wealth Group LLC grew its holdings in Starbucks by 17.3% during the 1st quarter. Boomfish Wealth Group LLC now owns 13,725 shares of the coffee company’s stock worth $1,254,000 after acquiring an additional 2,028 shares during the last quarter. RiverPark Advisors LLC grew its holdings in Starbucks by 12.3% during the 1st quarter. RiverPark Advisors LLC now owns 7,335 shares of the coffee company’s stock worth $670,000 after acquiring an additional 805 shares during the last quarter. Finally, CapWealth Advisors LLC grew its holdings in Starbucks by 0.4% during the 1st quarter. CapWealth Advisors LLC now owns 167,516 shares of the coffee company’s stock worth $15,309,000 after acquiring an additional 691 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock traded up $0.02 during midday trading on Wednesday, reaching $72.77. The company had a trading volume of 7,319,557 shares, compared to its average volume of 10,331,467. The company has a market capitalization of $82.43 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The stock has a 50 day moving average price of $77.91 and a 200-day moving average price of $86.93. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for 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 business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced 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 3.13%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. HSBC decreased their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Morgan Stanley cut their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. UBS Group cut their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and cut their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Seventeen research 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 an average rating of “Hold” and a consensus price target of $94.46.

Insider Activity 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 value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 completion of 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 ninety days. 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.