Alpha Omega Wealth Management LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,052 shares of the coffee company’s stock after selling 226 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Starbucks were worth $318,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Spartan Planning & Wealth Management increased its stake in shares of Starbucks by 19.2% in the fourth quarter. Spartan Planning & Wealth Management now owns 590 shares of the coffee company’s stock worth $59,000 after buying an additional 95 shares during the period. First American Trust FSB increased its stake in shares of Starbucks by 3.8% in the fourth quarter. First American Trust FSB now owns 2,649 shares of the coffee company’s stock worth $263,000 after buying an additional 97 shares during the period. Perennial Investment Advisors LLC increased its position in Starbucks by 2.0% during the 4th quarter. Perennial Investment Advisors LLC now owns 4,996 shares of the coffee company’s stock valued at $496,000 after purchasing an additional 98 shares during the period. FSM Wealth Advisors LLC increased its position in Starbucks by 2.8% during the 4th quarter. FSM Wealth Advisors LLC now owns 3,626 shares of the coffee company’s stock valued at $360,000 after purchasing an additional 99 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in Starbucks by 3.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 3,394 shares of the coffee company’s stock valued at $337,000 after purchasing an additional 100 shares during the period. Institutional investors own 69.68% of the company’s stock.
Insider Activity
In other news, CFO Rachel Ruggeri sold 679 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the completion of the sale, the chief financial officer now owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Credit Suisse Group boosted their price objective on shares of Starbucks from $122.00 to $128.00 in a research report on Wednesday, May 3rd. Royal Bank of Canada reduced their price objective on shares of Starbucks from $115.00 to $110.00 in a research report on Wednesday, May 3rd. Barclays boosted their price objective on shares of Starbucks from $123.00 to $127.00 in a research report on Wednesday, May 3rd. Robert W. Baird boosted their price objective on shares of Starbucks from $105.00 to $110.00 in a research report on Wednesday, May 3rd. Finally, BTIG Research boosted their target price on shares of Starbucks from $120.00 to $125.00 in a report on Wednesday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $110.31.
Starbucks Stock Performance
Shares of NASDAQ:SBUX opened at $99.06 on Friday. Starbucks Co. has a fifty-two week low of $75.73 and a fifty-two week high of $115.48. The business has a 50-day simple moving average of $102.96 and a two-hundred day simple moving average of $103.44. The firm has a market cap of $113.56 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96.
Starbucks (NASDAQ:SBUX – Free Report) last issued its earnings results on Tuesday, May 2nd. The coffee company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Starbucks had a negative return on equity of 41.99% and a net margin of 10.46%. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. Starbucks’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 3.43 earnings per share for the current year.
Starbucks Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 10th. Starbucks’s payout ratio is currently 68.83%.
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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