Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Balboa Wealth Partners

Balboa Wealth Partners lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,844 shares of the coffee company’s stock after purchasing an additional 523 shares during the quarter. Balboa Wealth Partners’ holdings in Starbucks were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased its holdings 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 during the last quarter. Cypress Capital Management LLC WY grew its position in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% in 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 during the period. Evolution Advisers Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Starbucks in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.6 %

Starbucks stock traded down $1.30 during midday trading on Thursday, reaching $79.42. The company’s stock had a trading volume of 5,514,784 shares, compared to its average volume of 10,172,355. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The company has a market cap of $89.96 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.68 and a beta of 0.97. The business has a 50-day simple moving average of $84.58 and a 200-day simple moving average of $92.14.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,750 shares of company stock worth $322,675. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays lowered their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. BTIG Research lowered their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lowered their price target for the stock from $108.00 to $89.00 in a research report on Wednesday, May 1st. Evercore ISI lowered their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.43.

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.