Naviter Wealth LLC Purchases 2,380 Shares of Starbucks Co. (NASDAQ:SBUX)

Naviter Wealth LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,511 shares of the coffee company’s stock after acquiring an additional 2,380 shares during the period. Naviter Wealth LLC’s holdings in Starbucks were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. boosted its stake in shares of Starbucks by 1,578.9% in 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 in the last quarter. Atticus Wealth Management LLC grew its position in shares of 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 buying an additional 200 shares during the period. Evolution Advisers Inc. purchased a new stake in Starbucks in the fourth quarter worth about $36,000. Tennessee Valley Asset Management Partners bought a new position in Starbucks during the 4th quarter valued at approximately $38,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks during the fourth quarter valued at $38,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 1.1 %

SBUX opened at $87.35 on Tuesday. The stock has a fifty day moving average price of $90.27 and a 200-day moving average price of $94.27. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The firm has a market cap of $98.90 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company 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 $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, January 16th. Robert W. Baird lowered 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. Wedbush cut their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, 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.