Evolution Advisers Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Evolution Advisers Inc. acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 383 shares of the coffee company’s stock, valued at approximately $36,000.

Other large investors also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its position in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC increased its stake in shares of Starbucks by 153.8% in the fourth 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. Tennessee Valley Asset Management Partners purchased a new position in shares of Starbucks in the fourth quarter worth $38,000. Financial Connections Group Inc. purchased a new position in shares of Starbucks in the fourth quarter worth $38,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Starbucks in the fourth quarter worth $40,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Piper Sandler decreased their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Barclays cut their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Finally, Jefferies Financial Group cut their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

Shares of SBUX traded down $0.91 during trading hours on Thursday, hitting $87.84. The company had a trading volume of 6,824,753 shares, compared to its average volume of 8,392,070. The firm has a fifty day moving average price of $90.46 and a 200-day moving average price of $94.30. The stock has a market capitalization of $99.45 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) 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 analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. Research analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) 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.