Good Life Advisors LLC Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Good Life Advisors LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,400 shares of the coffee company’s stock after acquiring an additional 500 shares during the quarter. Good Life Advisors LLC’s holdings in Starbucks were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Freedom Wealth Alliance LLC acquired a new position in Starbucks in the 4th quarter valued at about $26,000. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Atticus Wealth Management LLC increased its stake in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the period. First Capital Advisors Group LLC. purchased a new stake in Starbucks during the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 1st quarter worth approximately $37,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SBUX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Barclays reduced their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Gordon Haskett downgraded shares of 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. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, HSBC initiated coverage on shares of Starbucks in a report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $110.05.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s 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 sale, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,000 shares of company stock worth $375,665 over the last three months. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.11 during midday trading on Thursday, reaching $91.39. 6,482,986 shares of the company traded hands, compared to its average volume of 8,581,803. The stock’s 50-day simple moving average is $93.04 and its 200-day simple moving average is $95.17. Starbucks Co. has a 12 month low of $89.21 and a 12 month high of $115.48. The firm has a market cap of $103.47 billion, a PE ratio of 24.48, a PEG ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 4.06 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. Starbucks’s payout ratio is 60.96%.

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.