Apollon Wealth Management LLC Buys 25,778 Shares of Starbucks Co. (NASDAQ:SBUX)

Apollon Wealth Management LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 94.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,101 shares of the coffee company’s stock after acquiring an additional 25,778 shares during the period. Apollon Wealth Management LLC’s holdings in Starbucks were worth $5,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. grew its holdings in shares of 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 buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY grew its holdings in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. Atticus Wealth Management LLC grew its holdings in shares of 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 buying an additional 200 shares during the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks during the fourth quarter valued at $38,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX traded down $0.21 during trading hours on Monday, hitting $72.90. 18,601,605 shares of the company’s stock traded hands, compared to its average volume of 9,574,881. Starbucks Co. has a 52-week low of $72.67 and a 52-week high of $108.12. The company has a market capitalization of $82.57 billion, a PE ratio of 20.08, a PEG ratio of 1.58 and a beta of 0.97. The firm’s 50-day moving average is $88.46 and its 200-day moving average is $93.69.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.63 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 paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.13%. Starbucks’s dividend payout ratio is presently 62.81%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. HSBC decreased their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.43.

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.