Peterson Wealth Services Buys 304 Shares of Starbucks Co. (NASDAQ:SBUX)

Peterson Wealth Services boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,154 shares of the coffee company’s stock after purchasing an additional 304 shares during the quarter. Starbucks comprises 1.2% of Peterson Wealth Services’ portfolio, making the stock its 27th largest holding. Peterson Wealth Services’ holdings in Starbucks were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter worth approximately $1,222,931,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Starbucks by 115,334.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after buying an additional 8,486,281 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after buying an additional 8,451,599 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in shares of Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Starbucks during the first quarter worth approximately $190,270,000. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $653,183 over the last 90 days. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SBUX shares. Morgan Stanley cut their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Robert W. Baird cut their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Jefferies Financial Group cut their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. TD Cowen restated a “hold” rating and issued a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Finally, Wedbush restated a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $107.43.

Starbucks Trading Up 0.4 %

Starbucks stock traded up $0.33 during mid-day trading on Thursday, hitting $86.54. The stock had a trading volume of 1,510,548 shares, compared to its average volume of 8,272,816. The stock has a 50-day simple moving average of $91.33 and a two-hundred day simple moving average of $94.47. The stock has a market capitalization of $97.98 billion, a PE ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last released its 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 company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 2.63%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend 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.