Wealthspire Advisors LLC Has $3.26 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Wealthspire Advisors LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,959 shares of the coffee company’s stock after acquiring an additional 4,758 shares during the quarter. Wealthspire Advisors LLC’s holdings in Starbucks were worth $3,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBUX. National Pension Service grew its holdings in Starbucks by 2.0% during the fourth quarter. National Pension Service now owns 1,935,135 shares of the coffee company’s stock worth $185,792,000 after purchasing an additional 38,836 shares during the period. Everpar Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $470,000. Gryphon Financial Partners LLC boosted its stake in shares of Starbucks by 96.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares during the period. Patrick M Sweeney & Associates Inc. acquired a new position in shares of Starbucks during the 4th quarter worth approximately $456,000. Finally, Palisade Asset Management LLC raised its stake in Starbucks by 10.1% in the 4th quarter. Palisade Asset Management LLC now owns 10,486 shares of the coffee company’s stock valued at $1,007,000 after acquiring an additional 960 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen reduced their price objective on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus decreased their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Robert W. Baird cut their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. UBS Group decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $96.43.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

SBUX traded up $1.00 during trading on Wednesday, hitting $73.50. 24,468,960 shares of the stock traded hands, compared to its average volume of 9,881,239. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $108.11. The company has a market cap of $83.25 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.58 and a beta of 0.97. The business has a 50 day moving average price of $88.03 and a 200 day moving average price of $93.53.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities research analysts predict that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Announces Dividend

The business 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.10%. Starbucks’s payout ratio is presently 62.81%.

Starbucks 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.