Forte Capital LLC ADV Purchases 1,381 Shares of Starbucks Co. (NASDAQ:SBUX)

Forte Capital LLC ADV boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,843 shares of the coffee company’s stock after acquiring an additional 1,381 shares during the quarter. Forte Capital LLC ADV’s holdings in Starbucks were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its holdings 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 worth $29,000 after buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY grew its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC increased its stake in shares of 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 purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. bought a new position in Starbucks in the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SBUX shares. Guggenheim cut their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday. Morgan Stanley dropped their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, TD Cowen reduced their price objective on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.09.

Starbucks Trading Down 2.4 %

Shares of SBUX traded down $1.82 during trading hours on Friday, reaching $73.11. 22,153,770 shares of the company traded hands, compared to its average volume of 12,042,146. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 12-month low of $72.67 and a 12-month high of $108.12. The stock’s fifty day moving average price is $88.89 and its 200 day moving average price is $93.84.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. Starbucks’s revenue was down 1.8% on a year-over-year basis. On average, research analysts forecast that Starbucks Co. will post 3.69 earnings per share for the current 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 given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.