Ieq Capital LLC Buys 12,513 Shares of Starbucks Co. (NASDAQ:SBUX)

Ieq Capital LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,217 shares of the coffee company's stock after acquiring an additional 12,513 shares during the quarter. Ieq Capital LLC's holdings in Starbucks were worth $8,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. raised 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 valued at $29,000 after purchasing an additional 300 shares in the last quarter. Cypress Capital Management LLC WY boosted its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company's stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Atticus Wealth Management LLC increased its stake in Starbucks by 153.8% in 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 during the period. Evolution Advisers Inc. acquired a new position in Starbucks in the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. bought a new position in Starbucks during the fourth quarter worth about $38,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 0.6 %

Shares of SBUX traded up $0.43 during trading hours on Friday, hitting $76.11. 15,761,892 shares of the stock traded hands, compared to its average volume of 15,631,098. The business has a fifty day moving average of $86.91 and a 200-day moving average of $93.13. The firm has a market capitalization of $86.21 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. Starbucks's payout ratio is presently 62.81%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Wedbush lowered their price objective on Starbucks from $95.00 to $92.00 and set a "neutral" rating on the stock in a research note on Friday, April 26th. Oppenheimer reiterated a "market perform" rating on shares of Starbucks in a research note on Friday, April 19th. Stephens reissued an "equal weight" rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Wells Fargo & Company lowered their target price on shares of Starbucks from $105.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, May 1st. Finally, DZ Bank downgraded shares of Starbucks from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Starbucks currently has a consensus rating of "Hold" and an average price target of $96.43.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the 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 transaction, the chief executive officer now owns 81,199 shares of the company's stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. 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.