J.W. Cole Advisors Inc. Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

J.W. Cole Advisors Inc. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,159 shares of the coffee company’s stock after purchasing an additional 901 shares during the period. J.W. Cole Advisors Inc.’s holdings in Starbucks were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SBUX. Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% in 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 in the last quarter. Atticus Wealth Management LLC increased its holdings in Starbucks by 153.8% in 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 in the last quarter. Financial Connections Group Inc. purchased a new position in Starbucks in the fourth quarter valued at $38,000. Tennessee Valley Asset Management Partners purchased a new position in Starbucks in the fourth quarter valued at $38,000. Finally, Fortitude Family Office LLC purchased a new position in Starbucks in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $88.18 on Tuesday. The firm has a market capitalization of $99.84 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.42 and a beta of 0.98. The company’s 50-day moving average is $90.80 and its two-hundred day moving average is $94.42. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 4.01 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s 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 directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 7,000 shares of company stock worth $629,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Morgan Stanley cut their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Piper Sandler cut their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. TD Cowen reissued a “hold” rating and set a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Finally, Wedbush reissued a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.