Tyche Wealth Partners LLC Invests $794,000 in Starbucks Co. (NASDAQ:SBUX)

Tyche Wealth Partners LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,266 shares of the coffee company’s stock, valued at approximately $794,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Cerity Partners LLC increased its position in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the period. Metis Global Partners LLC grew its position in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the period. Insigneo Advisory Services LLC grew its position in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares during the period. Motco grew its position in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $1,348,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday. Robert W. Baird dropped their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Piper Sandler dropped their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $107.43.

Starbucks Trading Up 0.3 %

NASDAQ SBUX traded up $0.25 on Wednesday, hitting $85.67. 524,191 shares of the company’s stock traded hands, compared to its average volume of 8,282,680. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm’s 50-day moving average price is $91.51 and its two-hundred day moving average price is $94.53. The firm has a market capitalization of $97.00 billion, a PE ratio of 22.84, a P/E/G ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 business had revenue of $9.43 billion for 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 business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Activity

In other 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 transaction of $305,597.50. Following the completion of 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 legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,000 shares of company stock valued at $375,665 in the last three months. 1.98% of the stock is currently owned by corporate insiders.

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.