TCG Advisory Services LLC Purchases 8,775 Shares of Starbucks Co. (NASDAQ:SBUX)

TCG Advisory Services LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 200.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,146 shares of the coffee company’s stock after buying an additional 8,775 shares during the quarter. TCG Advisory Services LLC’s holdings in Starbucks were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Cypress Capital Management LLC WY raised its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the period. Evolution Advisers Inc. bought a new stake in Starbucks in the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Starbucks in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. JPMorgan Chase & Co. cut their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stifel Nicolaus decreased their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, UBS Group reduced their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.09.

Insider Buying and Selling

In other 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 transaction of $277,517.50. Following the sale, 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 SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is owned by corporate insiders.

Starbucks Trading Down 2.4 %

NASDAQ:SBUX traded down $1.82 on Friday, reaching $73.11. 22,153,770 shares of the stock traded hands, compared to its average volume of 12,042,146. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 12 month low of $72.67 and a 12 month high of $108.12. The company’s fifty day simple moving average is $88.89 and its 200 day simple moving average is $93.84.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Equities analysts anticipate that Starbucks Co. will post 3.69 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.12%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

About Starbucks

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.