Sfmg LLC Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Sfmg LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 36,840 shares of the coffee company’s stock after buying an additional 912 shares during the quarter. Sfmg LLC’s holdings in Starbucks were worth $3,537,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Freedom Wealth Alliance LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. grew 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 worth $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC raised its holdings in Starbucks by 153.8% in 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 in the last quarter. First Capital Advisors Group LLC. purchased a new position in Starbucks during the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 1st quarter valued at $37,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.45 during midday trading on Wednesday, hitting $85.87. 2,071,221 shares of the stock traded hands, compared to its average volume of 8,302,570. The firm has a market capitalization of $97.22 billion, a P/E ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm has a 50-day moving average of $91.51 and a two-hundred day moving average of $94.53.

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 firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. Equities analysts forecast that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on 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 $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. TD Cowen reiterated a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Stifel Nicolaus decreased their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Wedbush restated a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research note on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $107.43.

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.