Federated Hermes Inc. Has $6.49 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Federated Hermes Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,595 shares of the coffee company's stock after acquiring an additional 12,495 shares during the quarter. Federated Hermes Inc.'s holdings in Starbucks were worth $6,490,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. increased its position in 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 in the last quarter. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company's stock worth $32,000 after buying an additional 200 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in Starbucks in the fourth quarter worth about $38,000. Tennessee Valley Asset Management Partners purchased a new stake in Starbucks in the fourth quarter worth about $38,000. Finally, Fortitude Family Office LLC purchased a new stake in Starbucks in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of 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. Insiders sold 7,250 shares of company stock valued at $651,738 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

SBUX traded up $0.41 during trading on Friday, hitting $88.25. 7,183,643 shares of the stock were exchanged, compared to its average volume of 8,379,258. The firm has a 50 day simple moving average of $90.46 and a 200 day simple moving average of $94.30. The firm has a market cap of $99.92 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.49 and a beta of 0.97. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks's dividend payout ratio is presently 60.96%.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. TD Cowen reiterated a "hold" rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday, January 31st. Jefferies Financial Group cut their target price on Starbucks from $100.00 to $94.00 and set a "hold" rating for the company in a research report on Tuesday, April 16th. Barclays cut 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. Finally, Wedbush dropped their price target on Starbucks from $95.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $106.55.

Starbucks Company 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.