Gallacher Capital Management LLC Invests $448,000 in Starbucks Co. (NASDAQ:SBUX)

Gallacher Capital Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,671 shares of the coffee company’s stock, valued at approximately $448,000.

Several other large investors have also recently bought and sold shares of SBUX. Flossbach Von Storch AG raised its holdings in Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Starbucks during the third quarter worth about $147,125,000. Nordea Investment Management AB boosted its stake in shares of Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after buying an additional 1,591,206 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SBUX shares. BTIG Research cut their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush cut their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Piper Sandler decreased their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.09.

Starbucks Stock Performance

NASDAQ:SBUX traded down $1.82 during trading hours on Friday, hitting $73.11. The company’s stock had a trading volume of 22,153,770 shares, compared to its average volume of 12,042,146. Starbucks Co. has a 52-week low of $72.67 and a 52-week high of $108.12. The company has a market capitalization of $82.81 billion, a PE ratio of 20.14, a PEG ratio of 1.36 and a beta of 0.97. The business’s 50-day moving average is $88.89 and its two-hundred day moving average is $93.84.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for 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%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, analysts predict that Starbucks Co. will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last three months. Corporate 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.