Magnus Financial Group LLC Has $778,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Magnus Financial Group LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 63.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,103 shares of the coffee company’s stock after acquiring an additional 3,142 shares during the period. Magnus Financial Group LLC’s holdings in Starbucks were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Riggs Asset Managment Co. Inc. boosted its position 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 worth $29,000 after acquiring an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its stake 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 in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks during the 4th quarter worth approximately $36,000. Financial Connections Group Inc. bought a new position in shares of Starbucks in the 4th quarter valued at $38,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Starbucks in the fourth quarter valued at about $38,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of Starbucks stock opened at $88.48 on Monday. The company has a 50-day simple moving average of $90.36 and a two-hundred day simple moving average of $94.30. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The stock has a market capitalization of $100.18 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last announced 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). The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given 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 dividend yield of 2.58%. Starbucks’s payout ratio is currently 60.96%.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBUX shares. Citigroup reduced their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. TD Cowen reiterated a “hold” rating and set a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Robert W. Baird dropped their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. BTIG Research decreased their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.55.

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.