Golden State Equity Partners Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Golden State Equity Partners increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 19.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,473 shares of the coffee company’s stock after acquiring an additional 720 shares during the quarter. Golden State Equity Partners’ holdings in Starbucks were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Starbucks by 0.4% in the third 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 in the last quarter. Northern Trust Corp increased its holdings in Starbucks by 1.5% in the third 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 in the last quarter. Invesco Ltd. increased its holdings in Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after buying an additional 1,115,051 shares in the last quarter. Nordea Investment Management AB increased its holdings in Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares in the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in Starbucks by 2.8% in the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock valued at $452,374,000 after buying an additional 133,620 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SBUX shares. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. TD Cowen reiterated a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Stifel Nicolaus dropped 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. BTIG Research dropped their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, BMO Capital Markets dropped their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Starbucks currently has an average rating of “Hold” and an average price target of $106.55.

Insider Buying and Selling at Starbucks

In other Starbucks 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 value of $305,597.50. Following the transaction, 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 accessible through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

NASDAQ:SBUX opened at $88.25 on Friday. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. The company’s 50-day moving average is $90.36 and its two-hundred day moving average is $94.28. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted 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 analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 2.58%. Starbucks’s payout ratio is 60.96%.

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.