MeadowBrook Investment Advisors LLC Makes New $1.01 Million Investment in Starbucks Co. (NASDAQ:SBUX)

MeadowBrook Investment Advisors LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,500 shares of the coffee company’s stock, valued at approximately $1,008,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Spire Wealth Management lifted its stake in Starbucks by 16.8% during the fourth quarter. Spire Wealth Management now owns 45,403 shares of the coffee company’s stock valued at $4,262,000 after buying an additional 6,546 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in Starbucks during the fourth quarter worth approximately $448,000. Valley Brook Capital Group Inc. boosted its stake in Starbucks by 5.0% in the 4th quarter. Valley Brook Capital Group Inc. now owns 4,410 shares of the coffee company’s stock valued at $423,000 after purchasing an additional 210 shares during the period. Avalon Trust Co boosted its holdings in Starbucks by 10.9% in the 4th quarter. Avalon Trust Co now owns 3,216 shares of the coffee company’s stock valued at $309,000 after purchasing an additional 316 shares during the period. Finally, National Bank of Canada FI raised its position in Starbucks by 74.4% during the fourth quarter. National Bank of Canada FI now owns 1,884,183 shares of the coffee company’s stock valued at $176,487,000 after purchasing an additional 803,853 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Guggenheim decreased their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Citigroup decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Wedbush decreased their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.43.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.30 during mid-day trading on Tuesday, reaching $72.60. The company had a trading volume of 7,343,080 shares, compared to its average volume of 9,542,110. The stock has a fifty day moving average of $88.46 and a two-hundred day moving average of $93.69. The company has a market capitalization of $82.23 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.58 and a beta of 0.97. Starbucks Co. has a 12-month low of $72.13 and a 12-month high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.