BIP Wealth LLC Takes $280,000 Position in Starbucks Co. (NASDAQ:SBUX)

BIP Wealth LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,912 shares of the coffee company’s stock, valued at approximately $280,000.

A number of other institutional investors also recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. increased its holdings in Starbucks by 2.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,049 shares of the coffee company’s stock worth $3,269,000 after purchasing an additional 797 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Starbucks by 0.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 125,203 shares of the coffee company’s stock valued at $12,021,000 after acquiring an additional 816 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Starbucks by 3.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 4,673 shares of the coffee company’s stock valued at $449,000 after acquiring an additional 177 shares during the last quarter. Wynn Capital LLC purchased a new stake in Starbucks in the fourth quarter worth $842,000. Finally, Harvest Fund Management Co. Ltd increased its position in Starbucks by 7.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 10,207 shares of the coffee company’s stock worth $976,000 after buying an additional 666 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SBUX. Stifel Nicolaus dropped their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Barclays cut their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Jefferies Financial Group cut their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Finally, Citigroup decreased their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus price target of $106.68.

Starbucks Price Performance

SBUX traded down $0.63 during trading on Thursday, hitting $88.12. The company had a trading volume of 3,895,903 shares, compared to its average volume of 8,349,980. The company has a market cap of $99.77 billion, a PE ratio of 23.48, a P/E/G ratio of 1.48 and a beta of 0.97. The business has a 50-day moving average of $90.57 and a 200-day moving average of $94.35. 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 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 analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. Research analysts forecast that Starbucks Co. will post 3.99 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling at Starbucks

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

About Starbucks

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.