Azzad Asset Management Inc. ADV Buys 7,316 Shares of Starbucks Co. (NASDAQ:SBUX)



Azzad Asset Management Inc. ADV lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 32.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,089 shares of the coffee company’s stock after acquiring an additional 7,316 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Starbucks were worth $2,750,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. Norges Bank purchased a new position in shares of Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC increased its position in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after acquiring an additional 268,030 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after acquiring an additional 27,496 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after acquiring an additional 166,010 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $76.26 on Thursday. The firm’s 50 day moving average price is $79.22 and its 200-day moving average price is $87.66. The company has a market cap of $86.38 billion, a PE ratio of 21.01, a P/E/G ratio of 1.68 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during 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 company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. On average, analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 over the last quarter. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SBUX. BTIG Research decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. HSBC decreased their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus reduced their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.54.

Get Our Latest Research Report on SBUX

Starbucks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)



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