Kestra Private Wealth Services LLC Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Kestra Private Wealth Services LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 18.4% in the fourth quarter, HoldingsChannel reports. The firm owned 141,551 shares of the coffee company’s stock after buying an additional 22,040 shares during the period. Kestra Private Wealth Services LLC’s holdings in Starbucks were worth $13,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% during the 3rd 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 increased its stake in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Atticus Wealth Management LLC raised its position in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Starbucks during the 4th quarter worth $38,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.1 %

Shares of Starbucks stock traded up $0.08 during trading on Monday, hitting $88.33. 8,519,671 shares of the company were exchanged, compared to its average volume of 8,378,088. The firm has a 50 day moving average price of $90.27 and a 200 day moving average price of $94.27. The stock has a market capitalization of $100.01 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.48 and a beta of 0.98. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Ratings Changes

A number of research firms have commented on SBUX. TD Cowen reaffirmed a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Citigroup reduced their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Morgan Stanley reduced their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $106.55.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is owned by insiders.

Starbucks Company Profile

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.