Lyell Wealth Management LP Purchases 1,267 Shares of Starbucks Co. (NASDAQ:SBUX)

Lyell Wealth Management LP lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,529 shares of the coffee company’s stock after purchasing an additional 1,267 shares during the period. Lyell Wealth Management LP’s holdings in Starbucks were worth $5,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Investment Advisors LLC boosted its holdings in Starbucks by 1.0% in the third quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock valued at $1,160,000 after acquiring an additional 128 shares during the last quarter. 1900 Wealth Management LLC bought a new stake in Starbucks in the third quarter valued at approximately $264,000. DAVENPORT & Co LLC boosted its holdings in Starbucks by 1.1% in the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock valued at $9,569,000 after acquiring an additional 1,177 shares during the last quarter. Mach 1 Financial Group LLC bought a new stake in Starbucks in the third quarter valued at approximately $225,000. Finally, KFG Wealth Management LLC boosted its holdings in Starbucks by 8.5% in the third quarter. KFG Wealth Management LLC now owns 3,083 shares of the coffee company’s stock valued at $281,000 after acquiring an additional 241 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBUX. Robert W. Baird reduced their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. Morgan Stanley reduced their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $106.68.

Starbucks Stock Up 1.0 %

NASDAQ:SBUX traded up $0.88 during trading hours on Wednesday, hitting $88.75. 7,178,942 shares of the company traded hands, compared to its average volume of 8,408,188. The firm’s 50-day simple moving average is $90.57 and its 200-day simple moving average is $94.35. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The company has a market cap of $100.48 billion, a PE ratio of 23.73, a PEG ratio of 1.44 and a beta of 0.97.

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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the business posted $0.75 earnings per share. Starbucks’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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 2.57%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.