Keel Point LLC Has $503,000 Position in Starbucks Co. (NASDAQ:SBUX)

Keel Point LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,235 shares of the coffee company’s stock after purchasing an additional 415 shares during the quarter. Keel Point LLC’s holdings in Starbucks were worth $503,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Freedom Wealth Alliance LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. Riggs Asset Managment Co. Inc. increased its position in 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 acquiring an additional 300 shares during the period. Atticus Wealth Management LLC increased its position in 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 acquiring an additional 200 shares during the period. First Capital Advisors Group LLC. bought a new position in Starbucks during the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the first quarter worth about $37,000. 72.29% of the stock is owned by institutional investors.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The shares were 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 $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,000 shares of company stock worth $375,665 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SBUX shares. Morgan Stanley lowered their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler decreased their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Barclays decreased their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Stephens restated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Twelve investment 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 presently has a consensus rating of “Hold” and an average price target of $107.71.

Starbucks Stock Performance

SBUX stock opened at $85.28 on Tuesday. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The company has a market capitalization of $96.55 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The company’s 50 day moving average price is $91.71 and its two-hundred day moving average price is $94.57.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

About Starbucks

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.