Starbucks Co. (NASDAQ:SBUX) Shares Bought by Cwm LLC

CWM LLC lifted its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,579 shares of the coffee company's stock after purchasing an additional 17,578 shares during the period. CWM LLC's holdings in Starbucks were worth $7,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its stake 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 worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company's stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Starbucks during the fourth quarter valued at $38,000. Financial Connections Group Inc. purchased a new position in Starbucks during the fourth quarter valued at $38,000. Finally, Fortitude Family Office LLC purchased a new position in Starbucks during the fourth quarter valued at $40,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.4 %

SBUX stock traded down $0.31 during trading on Tuesday, hitting $87.87. The company had a trading volume of 5,662,674 shares, compared to its average volume of 8,423,798. The firm has a market capitalization of $99.49 billion, a P/E ratio of 23.49, a PEG ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The company has a 50 day simple moving average of $90.68 and a 200-day simple moving average of $94.39.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Sell-side analysts forecast that Starbucks Co. will post 4.01 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks's dividend payout ratio is presently 60.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SBUX shares. Stephens reaffirmed an "equal weight" rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Guggenheim cut their target price on shares of Starbucks from $100.00 to $91.00 and set a "buy" rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, March 19th. Wedbush reaffirmed a "neutral" rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Citigroup cut their target price on shares of Starbucks from $102.00 to $95.00 and set a "neutral" rating for the company in a research note on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $106.68.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now 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 available at the SEC website. Insiders have sold 7,000 shares of company stock valued at $629,738 in the last 90 days. Company insiders own 1.98% of the company's stock.

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.