Masso Torrence Wealth Management Inc. Purchases New Stake in Starbucks Co. (NASDAQ:SBUX)

Masso Torrence Wealth Management Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,220 shares of the coffee company’s stock, valued at approximately $213,000.

Other institutional investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted 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 purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks in the fourth quarter worth $38,000. Financial Connections Group Inc. acquired a new position in shares of Starbucks in the fourth quarter worth $38,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Starbucks in the fourth quarter worth $40,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,000 shares of company stock valued at $629,738 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.21 during mid-day trading on Tuesday, hitting $87.97. The company had a trading volume of 3,918,918 shares, compared to its average volume of 8,400,346. The stock has a market cap of $99.60 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The firm’s 50 day simple moving average is $90.80 and its two-hundred day simple moving average is $94.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Equities analysts forecast that Starbucks Co. will post 4.01 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Jefferies Financial Group cut their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday. Stifel Nicolaus dropped their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.68.

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.