Federated Hermes Inc. Purchases 12,495 Shares of Starbucks Co. (NASDAQ:SBUX)

Federated Hermes Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 22.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 67,595 shares of the coffee company’s stock after acquiring an additional 12,495 shares during the period. Federated Hermes Inc.’s holdings in Starbucks were worth $6,490,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SBUX. Cerity Partners LLC increased its holdings in shares of 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 acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $794,000. Insigneo Advisory Services LLC increased its holdings in shares of Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after acquiring an additional 3,570 shares in the last quarter. Finally, Motco increased its holdings in shares of Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after acquiring an additional 811 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following 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 filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Starbucks stock opened at $87.84 on Friday. The company’s fifty day moving average price is $90.46 and its 200 day moving average price is $94.30. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The stock has a market capitalization of $99.45 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $0.75 EPS. Starbucks’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s dividend payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Guggenheim cut their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Robert W. Baird reduced their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Finally, Jefferies Financial Group reduced their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.68.

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.