Choreo LLC Has $2.81 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Choreo LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 24.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,236 shares of the coffee company’s stock after purchasing an additional 5,797 shares during the quarter. Choreo LLC’s holdings in Starbucks were worth $2,807,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. McAdam LLC raised its position in Starbucks by 3.3% in the 4th quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock valued at $367,000 after buying an additional 124 shares during the last quarter. Mather Group LLC. increased its position in shares of Starbucks by 10.0% during the 4th quarter. Mather Group LLC. now owns 18,413 shares of the coffee company’s stock valued at $1,768,000 after purchasing an additional 1,669 shares during the last quarter. Marco Investment Management LLC increased its position in shares of Starbucks by 8.7% during the 4th quarter. Marco Investment Management LLC now owns 30,725 shares of the coffee company’s stock valued at $2,950,000 after purchasing an additional 2,460 shares during the last quarter. Magnus Financial Group LLC increased its position in shares of Starbucks by 63.3% during the 4th quarter. Magnus Financial Group LLC now owns 8,103 shares of the coffee company’s stock valued at $778,000 after purchasing an additional 3,142 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in shares of Starbucks by 6.5% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock worth $276,000 after acquiring an additional 175 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX stock opened at $88.33 on Tuesday. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The stock has a 50 day moving average price of $90.27 and a two-hundred day moving average price of $94.27. The company has a market capitalization of $100.01 billion, a P/E ratio of 23.62, a PEG ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 company had revenue of $9.43 billion during the quarter, compared to the consensus estimate 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 posted $0.75 EPS. As a group, equities analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

Wall Street Analyst Weigh In

Several research analysts have commented on SBUX shares. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Jefferies Financial Group cut their price objective on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. BTIG Research cut their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.55.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last quarter. 1.98% of the stock is owned by corporate insiders.

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.