Connecticut Wealth Management LLC Has $481,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Connecticut Wealth Management LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,275 shares of the coffee company’s stock after buying an additional 165 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Starbucks were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $58,000. Castleark Management LLC grew its holdings in Starbucks by 3.4% in the 4th quarter. Castleark Management LLC now owns 231,760 shares of the coffee company’s stock valued at $21,148,000 after buying an additional 7,660 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Starbucks by 14.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 216,993 shares of the coffee company’s stock valued at $19,801,000 after buying an additional 28,000 shares during the last quarter. Financial Avengers Inc. lifted its position in shares of Starbucks by 0.8% in the 4th quarter. Financial Avengers Inc. now owns 42,086 shares of the coffee company’s stock worth $3,840,000 after acquiring an additional 325 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of Starbucks by 69.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 13,644 shares of the coffee company’s stock worth $1,245,000 after acquiring an additional 5,614 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Barclays reduced their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $98.72.

Starbucks Stock Performance

NASDAQ SBUX opened at $83.97 on Friday. The stock has a fifty day moving average of $87.06 and a 200-day moving average of $96.13. The stock has a market capitalization of $95.42 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. Equities research analysts forecast that Starbucks Co. will post 2.99 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 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

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.