Allen Wealth Management LLC Sells 136 Shares of Starbucks Co. (NASDAQ:SBUX)

Allen Wealth Management LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,483 shares of the coffee company’s stock after selling 136 shares during the quarter. Starbucks comprises about 0.8% of Allen Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Allen Wealth Management LLC’s holdings in Starbucks were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its position in shares of Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock worth $115,000 after purchasing an additional 100 shares during the period. Mystic Asset Management Inc. raised its holdings in Starbucks by 3.9% in the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after purchasing an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC lifted its position in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after buying an additional 103 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.2 %

Shares of Starbucks stock opened at $99.41 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a 50 day moving average of $105.84 and a 200 day moving average of $99.54. The firm has a market cap of $112.92 billion, a PE ratio of 32.07, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks’s payout ratio is 78.71%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company increased their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.12.

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.