Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Spire Wealth Management

Spire Wealth Management boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 16.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,403 shares of the coffee company’s stock after buying an additional 6,546 shares during the period. Spire Wealth Management’s holdings in Starbucks were worth $4,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Riggs Asset Managment Co. Inc. lifted its position in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY lifted its position in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Atticus Wealth Management LLC lifted 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 acquiring an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks during the 4th quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Starbucks during the 4th quarter worth approximately $38,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBUX. Citigroup dropped their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley dropped their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Jefferies Financial Group dropped their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. TD Cowen dropped their price objective on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, January 16th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $96.43.

Starbucks Stock Down 0.3 %

SBUX stock traded down $0.21 during trading on Monday, reaching $72.90. 18,601,605 shares of the company’s stock were exchanged, compared to its average volume of 9,574,881. Starbucks Co. has a 1-year low of $72.67 and a 1-year high of $108.12. The company’s fifty day moving average price is $88.89 and its 200-day moving average price is $93.84. The firm has a market cap of $82.57 billion, a PE ratio of 20.20, a P/E/G ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share 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 analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.13%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, 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 is available at this link. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last 90 days. 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.