SVB Wealth LLC Sells 3,056 Shares of Starbucks Co. (NASDAQ:SBUX)

SVB Wealth LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,321 shares of the coffee company’s stock after selling 3,056 shares during the period. SVB Wealth LLC’s holdings in Starbucks were worth $7,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. BCK Partners Inc. bought a new position in Starbucks during the 1st quarter worth $2,640,000. American Century Companies Inc. increased its stake in Starbucks by 7.3% during the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after acquiring an additional 1,872 shares during the period. Roundview Capital LLC increased its stake in Starbucks by 37.5% during the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock worth $651,000 after acquiring an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Starbucks in the 1st quarter valued at $198,000. Finally, Mather Group LLC. increased its stake in shares of Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after purchasing an additional 3,017 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 4,000 shares of company stock valued at $375,665 in the last ninety days. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.3 %

Shares of SBUX opened at $85.42 on Wednesday. The company has a market capitalization of $96.71 billion, a PE ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The stock’s 50-day moving average price is $91.51 and its two-hundred day moving average price is $94.53. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced 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). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Equities research analysts predict that Starbucks Co. will post 4.04 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 dividend yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HSBC assumed coverage on Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price target on the stock. Barclays decreased their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. BTIG Research decreased their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Stifel Nicolaus decreased their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $107.43.

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.