Western Wealth Management LLC Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Western Wealth Management LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,763 shares of the coffee company’s stock after buying an additional 452 shares during the period. Western Wealth Management LLC’s holdings in Starbucks were worth $2,762,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Quilter Plc acquired a new position in shares of Starbucks during the first quarter valued at about $208,530,000. Freedom Wealth Alliance LLC acquired a new position in Starbucks in the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Atticus Wealth Management LLC increased its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in Starbucks in the 2nd quarter worth approximately $35,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. TD Cowen restated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a report on Thursday, April 11th. 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. Finally, Wedbush reissued a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus target price of $107.43.

Starbucks Price Performance

Starbucks stock traded up $0.63 during trading hours on Friday, hitting $87.78. The stock had a trading volume of 2,483,441 shares, compared to its average volume of 8,326,081. The stock has a market capitalization of $99.38 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The stock’s fifty day moving average is $91.14 and its two-hundred day moving average is $94.42.

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, sell-side analysts anticipate that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Announces Dividend

The business 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. Starbucks’s payout ratio is currently 60.96%.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 7,250 shares of company stock worth $653,183. 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.