Everence Capital Management Inc. Acquires 4,110 Shares of Starbucks Co. (NASDAQ:SBUX)

Everence Capital Management Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,132 shares of the coffee company’s stock after acquiring an additional 4,110 shares during the quarter. Everence Capital Management Inc.’s holdings in Starbucks were worth $2,893,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BCK Partners Inc. acquired a new position in shares of Starbucks during the 1st quarter valued at $2,640,000. American Century Companies Inc. raised its holdings in shares of Starbucks by 7.3% in the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after purchasing an additional 1,872 shares during the last quarter. Roundview Capital LLC grew its position in Starbucks by 37.5% during the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after buying an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Starbucks during the first quarter worth about $198,000. Finally, Mather Group LLC. boosted its position in Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after purchasing an additional 3,017 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 0.3 %

Shares of Starbucks stock traded up $0.25 during trading on Tuesday, hitting $85.42. 8,715,250 shares of the stock traded hands, compared to its average volume of 8,380,168. The firm has a market cap of $96.71 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The stock’s fifty day simple moving average is $91.71 and its 200 day simple moving average is $94.57.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced 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. This represents a $2.28 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Piper Sandler lowered their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Jefferies Financial Group lowered their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $107.43.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 4,000 shares of company stock worth $375,665 in the last three months. 1.98% of the stock is owned by corporate insiders.

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.