Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Syon Capital LLC

Syon Capital LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,503 shares of the coffee company’s stock after purchasing an additional 2,156 shares during the quarter. Syon Capital LLC’s holdings in Starbucks were worth $1,008,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the 3rd 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 during the period. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Financial Connections Group Inc. acquired a new position in Starbucks in the fourth quarter valued at $38,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks in the fourth quarter valued at about $38,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 7,250 shares of company stock worth $651,738. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SBUX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. TD Cowen reiterated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Jefferies Financial Group cut their price objective 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. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, BMO Capital Markets cut their price target 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. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.68.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.91 during trading hours on Thursday, reaching $87.84. 6,825,453 shares of the company traded hands, compared to its average volume of 8,388,492. The firm’s 50-day moving average is $90.57 and its 200-day moving average is $94.35. The stock has a market cap of $99.45 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

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

Starbucks Announces Dividend

The company 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 annualized dividend and a yield of 2.60%. Starbucks’s payout ratio is currently 60.96%.

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.