Meadow Creek Wealth Advisors LLC Buys Shares of 4,359 Starbucks Co. (NASDAQ:SBUX)

Meadow Creek Wealth Advisors LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,359 shares of the coffee company’s stock, valued at approximately $419,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Navalign LLC grew its position in shares of Starbucks by 1.3% during the fourth quarter. Navalign LLC now owns 12,302 shares of the coffee company’s stock worth $1,181,000 after acquiring an additional 154 shares during the last quarter. Ellsworth Advisors LLC grew its position in shares of Starbucks by 7.0% during the fourth quarter. Ellsworth Advisors LLC now owns 5,154 shares of the coffee company’s stock worth $495,000 after acquiring an additional 336 shares during the last quarter. LGT Capital Partners LTD. grew its position in shares of Starbucks by 8.3% during the fourth quarter. LGT Capital Partners LTD. now owns 682,103 shares of the coffee company’s stock worth $65,489,000 after acquiring an additional 52,263 shares during the last quarter. Francis Financial Inc. bought a new position in shares of Starbucks during the fourth quarter worth about $214,000. Finally, Ritholtz Wealth Management grew its position in shares of Starbucks by 6.2% during the fourth quarter. Ritholtz Wealth Management now owns 24,523 shares of the coffee company’s stock worth $2,354,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SBUX shares. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, March 19th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Barclays reduced their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Finally, Piper Sandler reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $110.05.

Starbucks Price Performance

SBUX traded down $0.11 during midday trading on Thursday, hitting $91.39. 6,481,499 shares of the company’s stock traded hands, compared to its average volume of 8,584,698. The company has a market cap of $103.47 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The stock’s fifty day simple moving average is $93.04 and its 200-day simple moving average is $95.17. Starbucks Co. has a one year low of $89.21 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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). The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. On average, research analysts expect that Starbucks Co. will post 4.06 EPS for the current year.

Starbucks Dividend Announcement

The company 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,000 shares of company stock valued at $375,665 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

Starbucks 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.