Legacy Capital Wealth Partners LLC Buys 175 Shares of Starbucks Co. (NASDAQ:SBUX)

Legacy Capital Wealth Partners LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,873 shares of the coffee company’s stock after acquiring an additional 175 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Starbucks were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cerity Partners LLC grew its holdings in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Starbucks by 15.4% in the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after purchasing an additional 7,619 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Starbucks during the 4th quarter valued at approximately $794,000. Insigneo Advisory Services LLC grew its position in Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after purchasing an additional 3,570 shares during the period. Finally, Mountain Pacific Investment Advisers Inc. ID acquired a new position in Starbucks in the fourth quarter valued at approximately $201,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBUX shares. Citigroup lowered their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Barclays reduced their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, BTIG Research cut their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $106.55.

Starbucks Price Performance

Starbucks stock opened at $88.33 on Tuesday. The firm has a 50 day simple moving average of $90.27 and a 200-day simple moving average of $94.27. The stock has a market cap of $100.01 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $9.60 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by insiders.

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.