Syon Capital LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Syon Capital LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,503 shares of the coffee company’s stock after buying an additional 2,156 shares during the period. Syon Capital LLC’s holdings in Starbucks were worth $1,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its position in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC boosted its stake in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Financial Connections Group Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at about $38,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks in the fourth quarter worth about $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $40,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,250 shares of company stock worth $651,738 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.91 during trading on Thursday, hitting $87.84. The company’s stock had a trading volume of 6,825,453 shares, compared to its average volume of 8,388,492. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The company has a fifty day simple moving average of $90.57 and a two-hundred day simple moving average of $94.35. The company has a market capitalization of $99.45 billion, a PE ratio of 23.48, a P/E/G ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released 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 net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. Starbucks’s dividend payout ratio is currently 60.96%.

Analysts Set New Price Targets

Several research analysts have commented on SBUX shares. Morgan Stanley cut their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Piper Sandler dropped their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Robert W. Baird decreased 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. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.68.

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.