Tennessee Valley Asset Management Partners Makes New $38,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Tennessee Valley Asset Management Partners bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, HoldingsChannel.com reports. The fund bought 397 shares of the coffee company’s stock, valued at approximately $38,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Starbucks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock worth $9,756,001,000 after purchasing an additional 387,632 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after acquiring an additional 1,115,051 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in shares of Starbucks by 2.8% during the 3rd quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock valued at $452,374,000 after acquiring an additional 133,620 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wedbush reissued a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Guggenheim lowered their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. BTIG Research lowered their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $106.68.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

Shares of SBUX opened at $87.87 on Wednesday. The stock has a fifty day moving average price of $90.68 and a two-hundred day moving average price of $94.39. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The company has a market cap of $99.49 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.42 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s payout ratio is 60.96%.

Starbucks 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.