Bridges Investment Management Inc. Has $371,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Bridges Investment Management Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,865 shares of the coffee company’s stock after selling 1,874 shares during the quarter. Bridges Investment Management Inc.’s holdings in Starbucks were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in Starbucks during the 4th quarter worth about $26,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Atticus Wealth Management LLC raised its position 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. First Capital Advisors Group LLC. bought a new position in shares of Starbucks in the 2nd quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. BMO Capital Markets lowered their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a research report on Monday. StockNews.com lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Citigroup decreased their target price on Starbucks from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $109.24.

View Our Latest Research Report on Starbucks

Starbucks Stock Performance

SBUX stock traded up $0.32 during midday trading on Wednesday, reaching $89.62. 1,384,832 shares of the company’s stock traded hands, compared to its average volume of 8,409,249. The company has a 50-day moving average price of $92.87 and a two-hundred day moving average price of $95.00. Starbucks Co. has a 52 week low of $89.02 and a 52 week high of $115.48. The firm has a market capitalization of $101.47 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. As a group, analysts predict that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 annualized dividend and a dividend yield of 2.54%. Starbucks’s payout ratio is currently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by company insiders.

Starbucks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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