Lyell Wealth Management LP Buys 1,267 Shares of Starbucks Co. (NASDAQ:SBUX)

Lyell Wealth Management LP raised its stake in Starbucks Co. (NASDAQ:SBUX) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,529 shares of the coffee company’s stock after purchasing an additional 1,267 shares during the quarter. Lyell Wealth Management LP’s holdings in Starbucks were worth $5,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Cerity Partners LLC increased its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the period. Metis Global Partners LLC increased its stake in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares during the period. Tyche Wealth Partners LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $794,000. Insigneo Advisory Services LLC increased its stake in shares of Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after buying an additional 3,570 shares during the period. Finally, Motco increased its stake in shares of Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after buying an additional 811 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.88 during midday trading on Wednesday, reaching $88.75. 7,178,942 shares of the company’s stock traded hands, compared to its average volume of 8,408,188. The company has a market cap of $100.48 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.44 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The stock has a 50 day moving average of $90.57 and a 200 day moving average of $94.35.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal 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 issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SBUX shares. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Citigroup reduced their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Robert W. Baird reduced their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $106.68.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by company 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.