Evolution Advisers Inc. Acquires Shares of 383 Starbucks Co. (NASDAQ:SBUX)

Evolution Advisers Inc. acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 383 shares of the coffee company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the period. Metis Global Partners LLC raised its holdings in Starbucks by 15.4% in the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after purchasing an additional 7,619 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Starbucks in the fourth quarter worth $794,000. Insigneo Advisory Services LLC raised its holdings in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after purchasing an additional 3,570 shares during the period. Finally, Motco raised its holdings in shares of Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after acquiring an additional 811 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.0 %

Shares of SBUX traded down $0.91 during midday trading on Thursday, reaching $87.84. The stock had a trading volume of 6,824,753 shares, compared to its average volume of 8,392,070. The firm has a market cap of $99.45 billion, a PE ratio of 23.49, a P/E/G ratio of 1.48 and a beta of 0.97. The firm has a 50 day simple moving average of $90.46 and a 200-day simple moving average of $94.30. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion for 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 business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analysts Set New Price Targets

A number of brokerages recently commented on SBUX. Wedbush restated a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets dropped their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Wells Fargo & Company restated an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Finally, Piper Sandler dropped their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.