Cwm LLC Acquires 17,578 Shares of Starbucks Co. (NASDAQ:SBUX)

Cwm LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 29.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,579 shares of the coffee company’s stock after buying an additional 17,578 shares during the period. Cwm LLC’s holdings in Starbucks were worth $7,448,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC boosted its stake in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Financial Connections Group Inc. bought a new position in Starbucks in the 4th quarter worth about $38,000. Tennessee Valley Asset Management Partners bought a new position in Starbucks in the 4th quarter worth about $38,000. Finally, Fortitude Family Office LLC bought a new position in Starbucks in the 4th quarter worth about $40,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Robert W. Baird lowered their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group lowered their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Barclays lowered their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, Citigroup lowered their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.68.

Insider Buying and Selling 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 stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 7,000 shares of company stock valued at $629,738 in the last three months. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Trading Up 0.7 %

Starbucks stock opened at $88.18 on Tuesday. The firm has a 50 day moving average of $90.80 and a 200 day moving average of $94.42. The firm has a market capitalization of $99.84 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.60 billion. During the same period last year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 4.01 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 issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 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.