Wealth Alliance Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Wealth Alliance trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,802 shares of the coffee company’s stock after selling 340 shares during the quarter. Wealth Alliance’s holdings in Starbucks were worth $1,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Starbucks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after buying an additional 387,632 shares during the period. State Street Corp boosted its stake in shares of Starbucks by 0.3% in the 1st quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after buying an additional 135,644 shares during the period. Morgan Stanley boosted its stake in shares of Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares during the period. Northern Trust Corp boosted its stake in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares during the period. Finally, Norges Bank purchased a new position in shares of Starbucks in the 4th quarter valued at about $1,222,931,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $85.42 on Wednesday. The company has a market capitalization of $96.71 billion, a P/E ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The company’s fifty day moving average is $91.51 and its two-hundred day moving average is $94.53. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities analysts expect that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. TD Cowen reaffirmed a “hold” rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Stifel Nicolaus cut their price target on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.43.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were 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 of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 4,000 shares of company stock valued at $375,665. Corporate insiders own 1.98% of the company’s stock.

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.