Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,372 shares of the coffee company's stock after purchasing an additional 12,089 shares during the quarter. Assetmark Inc.'s holdings in Starbucks were worth $9,157,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SBUX. Willow Creek Wealth Management Inc. grew its position in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company's stock worth $302,000 after buying an additional 97 shares during the period. Charles Schwab Investment Advisory Inc. grew its position in shares of Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company's stock worth $206,000 after buying an additional 100 shares during the period. Herold Advisors Inc. grew its position in shares of Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company's stock worth $221,000 after buying an additional 100 shares during the period. Rodgers Brothers Inc. grew its position in shares of Starbucks by 1.2% during the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company's stock worth $755,000 after buying an additional 100 shares during the period. Finally, First National Trust Co grew its position in shares of Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company's stock worth $483,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX traded down $2.41 during trading on Thursday, reaching $78.31. 15,836,647 shares of the stock were exchanged, compared to its average volume of 10,277,413. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a market cap of $88.70 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.97. The stock's 50 day moving average price is $84.58 and its two-hundred day moving average price is $92.14.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Equities research analysts predict that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.91%. Starbucks's dividend payout ratio (DPR) is currently 62.81%.

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. DZ Bank cut shares of Starbucks from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. William Blair lowered shares of Starbucks from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 1st. Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a "buy" rating on the stock in a research note on Friday, April 19th. TD Cowen reduced their price objective on shares of Starbucks from $100.00 to $85.00 and set a "hold" rating on the stock in a research note on Wednesday, May 1st. Finally, BTIG Research reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $96.43.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 3,750 shares of company stock valued at $322,675. Insiders own 1.98% of the company's stock.

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.