Everence Capital Management Inc. Purchases 4,110 Shares of Starbucks Co. (NASDAQ:SBUX)

Everence Capital Management Inc. grew its position in Starbucks Co. (NASDAQ:SBUX) by 15.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,132 shares of the coffee company’s stock after purchasing an additional 4,110 shares during the period. Everence Capital Management Inc.’s holdings in Starbucks were worth $2,893,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Riggs Asset Managment Co. Inc. increased its position in Starbucks by 1,578.9% during the third 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 last quarter. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in Starbucks during the second quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the first quarter worth approximately $37,000. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,000 shares of company stock worth $375,665 in the last quarter. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday. Piper Sandler decreased their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. decreased their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. BMO Capital Markets decreased their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Finally, BTIG Research decreased their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $107.43.

Starbucks Price Performance

Shares of SBUX stock traded up $0.25 on Tuesday, reaching $85.42. 8,715,250 shares of the company were exchanged, compared to its average volume of 8,380,168. The company has a market cap of $96.71 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.36 and a beta of 0.98. The company has a 50-day moving average of $91.71 and a 200-day moving average of $94.57. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the business posted $0.75 EPS. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.67%. Starbucks’s payout ratio is currently 60.96%.

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.