Marietta Wealth Management LLC Has $6.02 Million Position in Starbucks Co. (NASDAQ:SBUX)

Marietta Wealth Management LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 62,679 shares of the coffee company’s stock after purchasing an additional 410 shares during the quarter. Marietta Wealth Management LLC’s holdings in Starbucks were worth $6,018,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Cerity Partners LLC lifted its position in shares of Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its stake in Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares during the period. Insigneo Advisory Services LLC lifted its position in Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares in the last quarter. Motco boosted its stake in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after buying an additional 811 shares during the period. Finally, Anchor Investment Management LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $1,348,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.8 %

SBUX traded up $0.64 during trading hours on Tuesday, hitting $85.81. 3,435,396 shares of the company’s stock were exchanged, compared to its average volume of 8,311,199. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The stock’s 50-day moving average is $91.71 and its two-hundred day moving average is $94.57. The stock has a market cap of $97.15 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.36 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company 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% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.66%. Starbucks’s payout ratio is 60.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. BMO Capital Markets lowered their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Robert W. Baird cut their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Barclays reduced their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.43.

Insiders Place Their Bets

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by corporate insiders.

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.