Altus Wealth Group LLC Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Altus Wealth Group LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,191 shares of the coffee company’s stock after selling 145 shares during the quarter. Altus Wealth Group LLC’s holdings in Starbucks were worth $210,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $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 valued at $29,000 after acquiring 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 valued at $32,000 after acquiring an additional 200 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in Starbucks during the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the first quarter valued at $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 4,000 shares of company stock worth $375,665. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. BTIG Research lowered their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, January 16th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.71.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $0.98 during midday trading on Friday, reaching $84.92. 8,594,849 shares of the company’s stock traded hands, compared to its average volume of 6,860,191. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The company has a market cap of $96.15 billion, a P/E ratio of 22.71, a PEG ratio of 1.37 and a beta of 0.97. The company has a fifty day simple moving average of $91.86 and a two-hundred day simple moving average of $94.57.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. As a group, research analysts forecast that Starbucks Co. will post 4.05 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.68%. 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.