Allspring Global Investments Holdings LLC Acquires 14,671 Shares of Starbucks Co. (NASDAQ:SBUX)

Allspring Global Investments Holdings LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 159,460 shares of the coffee company’s stock after buying an additional 14,671 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Starbucks were worth $15,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BCK Partners Inc. purchased a new position in shares of Starbucks in the 1st quarter valued at approximately $2,640,000. American Century Companies Inc. boosted its holdings in shares of Starbucks by 7.3% during the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after buying an additional 1,872 shares in the last quarter. Roundview Capital LLC grew its position in shares of Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock worth $651,000 after buying an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Starbucks during the 1st quarter valued at about $198,000. Finally, Mather Group LLC. boosted its stake in Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after acquiring an additional 3,017 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $85.17 on Tuesday. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The stock has a market capitalization of $96.43 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.36 and a beta of 0.98. The stock’s 50-day simple moving average is $91.71 and its two-hundred day simple moving average is $94.57.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 4.05 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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 yield of 2.68%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was 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 of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 4,000 shares of company stock valued at $375,665. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. HSBC assumed coverage on Starbucks in a research note on Wednesday, December 20th. They set a “hold” rating and a $107.00 price objective for the company. Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets dropped their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Finally, TD Cowen reissued a “hold” rating and set a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average target price of $107.71.

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.