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

Gallacher Capital Management LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel reports. The fund purchased 4,671 shares of the coffee company’s stock, valued at approximately $448,000.

A number of other institutional investors have also recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY grew its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC increased its stake in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in shares of Starbucks during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. acquired a new position in Starbucks during the fourth quarter worth $38,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock traded down $1.82 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. The stock has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.36 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $72.67 and a fifty-two week high of $108.12. The firm’s fifty day moving average price is $88.89 and its 200-day moving average price is $93.84.

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

Starbucks Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Finally, Morgan Stanley reduced their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus target price of $97.09.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 7,250 shares of company stock valued at $651,738 over the last ninety days. 1.98% of the stock is owned by company insiders.

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.