Opes Wealth Management LLC Has $224,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Opes Wealth Management LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,335 shares of the coffee company’s stock after selling 135 shares during the quarter. Opes Wealth Management LLC’s holdings in Starbucks were worth $224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Willow Creek Wealth Management Inc. boosted its position in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares in the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Starbucks by 0.7% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after purchasing an additional 100 shares in the last quarter. Valley Brook Capital Group Inc. boosted its position in shares of Starbucks by 2.4% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after purchasing an additional 100 shares in the last quarter. Charles Schwab Investment Advisory Inc. boosted its position in shares of Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 100 shares in the last quarter. Finally, Herold Advisors Inc. boosted its holdings in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.1 %

Shares of SBUX traded up $0.94 during trading hours on Thursday, hitting $87.15. The company had a trading volume of 11,400,473 shares, compared to its average volume of 8,411,019. The firm has a market cap of $98.67 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. The stock’s 50 day moving average price is $91.33 and its 200 day moving average price is $94.47. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.62%. Starbucks’s dividend payout ratio is presently 60.96%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBUX. Stifel Nicolaus cut their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. BMO Capital Markets decreased their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.43.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now 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 can be accessed through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $653,183 in the last 90 days. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.