GAMMA Investing LLC Invests $623,000 in Starbucks Co. (NASDAQ:SBUX)

GAMMA Investing LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,695 shares of the coffee company’s stock, valued at approximately $623,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisors LLC lifted its stake in Starbucks by 1.0% in the third quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock valued at $1,160,000 after purchasing an additional 128 shares during the last quarter. 1900 Wealth Management LLC purchased a new position in Starbucks in the third quarter valued at approximately $264,000. DAVENPORT & Co LLC lifted its stake in Starbucks by 1.1% in the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock valued at $9,569,000 after purchasing an additional 1,177 shares during the last quarter. Mach 1 Financial Group LLC purchased a new position in Starbucks in the third quarter valued at approximately $225,000. Finally, KFG Wealth Management LLC lifted its position in shares of Starbucks by 8.5% during the third quarter. KFG Wealth Management LLC now owns 3,083 shares of the coffee company’s stock worth $281,000 after acquiring an additional 241 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.4 %

Shares of NASDAQ:SBUX traded up $0.35 on Wednesday, reaching $88.22. 2,741,232 shares of the company traded hands, compared to its average volume of 8,350,563. The business’s 50-day simple moving average is $90.68 and its 200 day simple moving average is $94.39. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The stock has a market capitalization of $99.88 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. Starbucks’s payout ratio is presently 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,000 shares of company stock valued at $629,738 over the last ninety days. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. BMO Capital Markets dropped their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus lowered their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $106.68.

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.