Main Street Research LLC Buys 322 Shares of Starbucks Co. (NASDAQ:SBUX)

Main Street Research LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,173 shares of the coffee company’s stock after purchasing an additional 322 shares during the period. Main Street Research LLC’s holdings in Starbucks were worth $497,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Atticus Wealth Management LLC boosted its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the period. First Capital Advisors Group LLC. bought a new position in Starbucks in the 2nd quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 1st quarter worth $37,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.1 %

Starbucks stock traded up $0.95 during midday trading on Tuesday, reaching $86.12. The stock had a trading volume of 4,693,181 shares, compared to its average volume of 8,329,046. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The firm has a market cap of $97.51 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The company has a fifty day moving average of $91.71 and a 200 day moving average of $94.57.

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

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.65%. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,000 shares of company stock worth $375,665 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. BMO Capital Markets dropped their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Piper Sandler dropped their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average target price of $107.43.

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.