Olympiad Research LP Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Olympiad Research LP bought a new position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,244 shares of the coffee company’s stock, valued at approximately $695,000. Starbucks makes up about 0.5% of Olympiad Research LP’s portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Advisors LLC increased its holdings in Starbucks by 0.6% during the 4th quarter. Legacy Advisors LLC now owns 28,650 shares of the coffee company’s stock worth $2,751,000 after purchasing an additional 185 shares in the last quarter. Journey Advisory Group LLC raised its position in Starbucks by 7.3% in the 4th quarter. Journey Advisory Group LLC now owns 2,943 shares of the coffee company’s stock valued at $283,000 after buying an additional 200 shares during the last quarter. Focus Financial Network Inc. ADV bought a new position in Starbucks during the 4th quarter valued at $3,329,000. Portfolio Design Labs LLC purchased a new position in Starbucks during the 4th quarter worth $729,000. Finally, TD Asset Management Inc grew its stake in shares of Starbucks by 50.6% in the 4th quarter. TD Asset Management Inc now owns 3,133,391 shares of the coffee company’s stock worth $300,837,000 after acquiring an additional 1,052,890 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SBUX shares. Piper Sandler dropped their price target on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. UBS Group decreased their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.43.

Check Out Our Latest Analysis on SBUX

Starbucks Trading Up 1.7 %

Shares of SBUX stock traded up $1.28 during trading hours on Thursday, reaching $78.16. The stock had a trading volume of 3,222,252 shares, compared to its average volume of 10,188,126. The stock’s fifty day simple moving average is $83.24 and its 200 day simple moving average is $91.25. The firm has a market capitalization of $88.53 billion, a PE ratio of 21.45, a PEG ratio of 1.69 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued 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 2.92%. Starbucks’s payout ratio is currently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the 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 transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,750 shares of company stock worth $642,050. 1.98% of the stock is currently owned by insiders.

Starbucks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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