Western Wealth Management LLC Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Western Wealth Management LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,763 shares of the coffee company’s stock after purchasing an additional 452 shares during the period. Western Wealth Management LLC’s holdings in Starbucks were worth $2,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Freedom Wealth Alliance LLC acquired a new position in shares of Starbucks during the fourth quarter worth about $26,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC lifted its stake in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new position in shares of Starbucks in the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the first quarter worth about $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.5 %

Shares of SBUX traded up $0.45 during mid-day trading on Friday, reaching $87.60. The company’s stock had a trading volume of 2,325,553 shares, compared to its average volume of 8,326,081. The business has a fifty day moving average of $91.14 and a 200 day moving average of $94.42. The company has a market cap of $99.18 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, analysts predict that Starbucks Co. will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. TD Cowen reiterated a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Robert W. Baird cut their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Stifel Nicolaus cut their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Morgan Stanley cut their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research note on Monday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $107.43.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is owned by insiders.

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.