Wellspring Financial Advisors LLC Has $266,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Wellspring Financial Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,912 shares of the coffee company’s stock after selling 366 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Starbucks were worth $266,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of Starbucks by 12.0% during the 3rd quarter. Janus Henderson Group PLC now owns 181,612 shares of the coffee company’s stock worth $17,713,000 after buying an additional 19,406 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in Starbucks by 63.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 104,917 shares of the coffee company’s stock valued at $10,228,000 after purchasing an additional 40,915 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in Starbucks by 28.5% in the third quarter. Insigneo Advisory Services LLC now owns 7,900 shares of the coffee company’s stock valued at $770,000 after purchasing an additional 1,750 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Starbucks by 6.2% during the 3rd quarter. Dunhill Financial LLC now owns 2,367 shares of the coffee company’s stock worth $231,000 after purchasing an additional 139 shares during the last quarter. Finally, Headinvest LLC bought a new stake in shares of Starbucks during the 3rd quarter worth approximately $222,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 7.0 %

SBUX stock opened at $82.10 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The business has a 50-day simple moving average of $105.32 and a 200 day simple moving average of $99.41. The company has a market cap of $93.26 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $0.90 earnings per share. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.97%. Starbucks’s payout ratio is 78.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBUX. Barclays boosted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

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.