Starbucks Co. (NASDAQ:SBUX) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,511 shares of the coffee company’s stock after acquiring an additional 2,380 shares during the period. Naviter Wealth LLC’s holdings in Starbucks were worth $1,297,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. increased its stake in shares of Starbucks by 1,578.9% during 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 last quarter. Atticus Wealth Management LLC raised its stake in Starbucks by 153.8% during the fourth 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 period. Evolution Advisers Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at $36,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Starbucks in the 4th quarter worth $38,000. Finally, Financial Connections Group Inc. acquired a new position in Starbucks in the fourth quarter valued at $38,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Jefferies Financial Group dropped their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Finally, Stifel Nicolaus reduced their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $106.55.

Starbucks Trading Down 1.1 %

Starbucks stock opened at $87.35 on Tuesday. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm’s fifty day simple moving average is $90.27 and its 200-day simple moving average is $94.27. The company has a market capitalization of $98.90 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued 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). 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 for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.61%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 in the last quarter. 1.98% of the stock is currently owned by company insiders.

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.