Ritholtz Wealth Management Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Ritholtz Wealth Management boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,523 shares of the coffee company’s stock after purchasing an additional 1,434 shares during the quarter. Ritholtz Wealth Management’s holdings in Starbucks were worth $2,354,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Metis Global Partners LLC raised its stake in shares of Starbucks by 15.4% in the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares during the period. Insigneo Advisory Services LLC lifted its stake in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after purchasing an additional 3,570 shares during the last quarter. Motco boosted its position 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. Anchor Investment Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $1,348,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Starbucks during the 3rd quarter worth approximately $524,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $375,665 in the last ninety days. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays reduced their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Stephens reiterated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. TD Cowen reaffirmed a “market perform” rating and set a $102.00 target price on shares of Starbucks in a research report on Tuesday, March 19th. 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, Citigroup reduced their price objective on Starbucks from $103.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $110.05.

Starbucks Trading Down 0.1 %

SBUX traded down $0.11 during midday trading on Thursday, hitting $91.39. 6,481,499 shares of the company traded hands, compared to its average volume of 8,584,698. The business has a 50 day simple moving average of $93.04 and a two-hundred day simple moving average of $95.17. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48. The company has a market capitalization of $103.47 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued 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). The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 4.06 earnings per share for the current 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 paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date 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.