Kovack Advisors Inc. Purchases 277 Shares of Starbucks Co. (NASDAQ:SBUX)

Kovack Advisors Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,879 shares of the coffee company’s stock after purchasing an additional 277 shares during the period. Kovack Advisors Inc.’s holdings in Starbucks were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Starbucks by 1,578.9% during the 3rd 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 during the last quarter. Atticus Wealth Management LLC raised its position in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at about $36,000. Financial Connections Group Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks during the 4th quarter valued at about $38,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $88.25 on Friday. The firm has a market cap of $99.92 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The firm’s 50 day simple moving average is $90.36 and its 200-day simple moving average is $94.28. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SBUX shares. Guggenheim decreased their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, January 16th. Finally, Wedbush reduced their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday. Fourteen investment 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 stock presently has an average rating of “Hold” and a consensus target price of $106.55.

Starbucks 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.