Wealth Alliance Sells 340 Shares of Starbucks Co. (NASDAQ:SBUX)

Wealth Alliance trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,802 shares of the coffee company’s stock after selling 340 shares during the quarter. Wealth Alliance’s holdings in Starbucks were worth $1,421,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SBUX. BCK Partners Inc. acquired a new stake in shares of Starbucks during the first quarter worth $2,640,000. American Century Companies Inc. increased its position in shares of Starbucks by 7.3% in the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after purchasing an additional 1,872 shares during the period. Roundview Capital LLC increased its position in shares of Starbucks by 37.5% in the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock worth $651,000 after purchasing an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Starbucks in the first quarter worth $198,000. Finally, Mather Group LLC. increased its position in shares of Starbucks by 77.5% in the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after purchasing an additional 3,017 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks 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 transaction, the insider now directly 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 this hyperlink. Insiders have sold a total of 4,000 shares of company stock valued at $375,665 over the last ninety days. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.3 %

Shares of SBUX stock opened at $85.42 on Wednesday. The business’s 50-day moving average price is $91.51 and its 200-day moving average price is $94.53. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The firm has a market capitalization of $96.71 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Morgan Stanley decreased 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. Citigroup decreased their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Wedbush reiterated a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $107.43.

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.