TRU Independence Asset Management 2 LLC Buys New Shares in Starbucks Co. (NASDAQ:SBUX)

TRU Independence Asset Management 2 LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 554 shares of the coffee company’s stock, valued at approximately $59,000.

Other hedge funds also recently bought and sold shares of the company. Hoey Investments Inc. grew its stake in shares of Starbucks by 21.7% in the fourth quarter. Hoey Investments Inc. now owns 3,756 shares of the coffee company’s stock valued at $402,000 after acquiring an additional 670 shares in the last quarter. HBW Advisory Services LLC increased its stake in Starbucks by 4.5% during the 4th quarter. HBW Advisory Services LLC now owns 39,278 shares of the coffee company’s stock worth $4,202,000 after acquiring an additional 1,676 shares during the period. Pettyjohn Wood & White Inc. raised its holdings in Starbucks by 23.7% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,818 shares of the coffee company’s stock valued at $1,692,000 after acquiring an additional 3,035 shares in the last quarter. YHB Investment Advisors Inc. lifted its position in shares of Starbucks by 6.9% during the 4th quarter. YHB Investment Advisors Inc. now owns 17,397 shares of the coffee company’s stock valued at $1,861,000 after acquiring an additional 1,128 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Starbucks by 3.0% during the 4th quarter. Cerity Partners LLC now owns 115,593 shares of the coffee company’s stock worth $12,366,000 after purchasing an additional 3,360 shares in the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.

In related news, CEO Kevin R. Johnson sold 170,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 515,934 shares in the company, valued at $57,304,789.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 78,905 shares in the company, valued at approximately $8,640,097.50. The disclosure for this sale can be found here. Insiders have sold 406,184 shares of company stock valued at $44,685,798 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

SBUX has been the topic of several recent analyst reports. Tigress Financial reissued a “buy” rating on shares of Starbucks in a report on Sunday, January 31st. Cowen increased their target price on shares of Starbucks from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, March 18th. Wells Fargo & Company raised their target price on shares of Starbucks from $116.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 27th. Wedbush raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $108.00 to $124.00 in a research report on Thursday, March 25th. Finally, Credit Suisse Group increased their price target on Starbucks from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday, January 27th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $107.22.

NASDAQ SBUX opened at $113.19 on Thursday. The firm has a market capitalization of $133.26 billion, a P/E ratio of 147.00, a PEG ratio of 2.67 and a beta of 0.82. The business has a fifty day simple moving average of $107.10 and a 200 day simple moving average of $99.66. Starbucks Co. has a 12 month low of $68.54 and a 12 month high of $113.82.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Monday, January 25th. The coffee company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.92 billion. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.81 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Thursday, May 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, May 12th. Starbucks’s dividend payout ratio is presently 153.85%.

About Starbucks

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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