Alteri Wealth LLC Takes $378,000 Position in Starbucks Co. (NASDAQ:SBUX)

Alteri Wealth LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,138 shares of the coffee company's stock, valued at approximately $378,000.

A number of other large investors also recently modified their holdings of SBUX. Financial Life Planners acquired a new stake in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Collier Financial bought a new position in shares of Starbucks during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. UBS Group lowered their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Citigroup cut their target price on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.72.

Starbucks Stock Performance

NASDAQ SBUX traded up $1.12 on Tuesday, hitting $82.78. 10,692,969 shares of the stock traded hands, compared to its average volume of 11,337,309. The business's fifty day moving average is $91.96 and its two-hundred day moving average is $97.20. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $94.07 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, May 16th. Starbucks's payout ratio is currently 88.41%.

Starbucks Company 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.