Unique Wealth Strategies LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Unique Wealth Strategies LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,276 shares of the coffee company’s stock, valued at approximately $891,000.

Other institutional investors have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its position in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the period. Atticus Wealth Management LLC increased its stake 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 acquiring an additional 200 shares in the last quarter. Evolution Advisers Inc. purchased a new position in Starbucks during the 4th quarter valued at about $36,000. Financial Connections Group Inc. bought a new stake in Starbucks during the fourth quarter worth about $38,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Starbucks in the fourth quarter worth about $38,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBUX. Stifel Nicolaus dropped their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Guggenheim dropped their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Barclays reduced their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Jefferies Financial Group dropped their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Finally, Robert W. Baird reduced their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $106.55.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by company insiders.

Starbucks Stock Up 0.5 %

Shares of Starbucks stock traded up $0.41 during trading hours on Friday, reaching $88.25. 7,185,257 shares of the stock traded hands, compared to its average volume of 7,387,159. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. The company has a 50 day moving average price of $90.36 and a 200 day moving average price of $94.27.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s dividend payout ratio 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.