Legacy Capital Wealth Partners LLC Has $276,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Legacy Capital Wealth Partners LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873 shares of the coffee company’s stock after buying an additional 175 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Starbucks were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares during the last quarter. Invesco Ltd. grew its stake in shares of Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after buying an additional 1,115,051 shares in the last quarter. Nordea Investment Management AB increased its holdings in Starbucks by 44.8% during the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after buying an additional 1,591,206 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its position in Starbucks by 2.8% during the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock worth $452,374,000 after acquiring an additional 133,620 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 7,250 shares of company stock valued at $651,738 over the last quarter. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBUX. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Jefferies Financial Group cut their price objective on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Robert W. Baird cut their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Finally, Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.55.

Starbucks Stock Up 0.1 %

Starbucks stock opened at $88.33 on Tuesday. The business’s 50-day moving average price is $90.27 and its two-hundred day moving average price is $94.27. The stock has a market cap of $100.01 billion, a PE ratio of 23.62, a P/E/G ratio of 1.48 and a beta of 0.98. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

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.