Tennessee Valley Asset Management Partners Purchases Shares of 397 Starbucks Co. (NASDAQ:SBUX)

Tennessee Valley Asset Management Partners purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 397 shares of the coffee company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its holdings in Starbucks by 3.9% in the 4th quarter. Perigon Wealth Management LLC now owns 26,699 shares of the coffee company’s stock valued at $2,563,000 after buying an additional 1,000 shares during the period. Benedict Financial Advisors Inc. grew its holdings in Starbucks by 1.0% in the 4th quarter. Benedict Financial Advisors Inc. now owns 34,935 shares of the coffee company’s stock valued at $3,354,000 after buying an additional 345 shares during the period. Valeo Financial Advisors LLC grew its holdings in Starbucks by 0.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 63,519 shares of the coffee company’s stock valued at $6,098,000 after buying an additional 453 shares during the period. Sapient Capital LLC purchased a new stake in Starbucks in the 4th quarter valued at about $16,127,000. Finally, Round Rock Advisors LLC purchased a new stake in Starbucks in the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Down 0.4 %

Shares of SBUX opened at $87.87 on Wednesday. The business’s 50 day moving average is $90.68 and its two-hundred day moving average is $94.39. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The firm has a market cap of $99.49 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.42 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 4.01 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Analysts Set New Price Targets

Several analysts have commented on SBUX shares. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a report on Monday, April 1st. Guggenheim reduced their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. BTIG Research reduced their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.68.

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.