Starbucks Co. (NASDAQ:SBUX) Shares Bought by Tanager Wealth Management LLP

Tanager Wealth Management LLP grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,446 shares of the coffee company’s stock after purchasing an additional 272 shares during the quarter. Tanager Wealth Management LLP’s holdings in Starbucks were worth $331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new position in shares of Starbucks during the 4th quarter valued at about $1,222,931,000. Moneta Group Investment Advisors LLC boosted its position in shares of Starbucks by 115,334.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after acquiring an additional 8,486,281 shares during the last quarter. Morgan Stanley boosted its position in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the last quarter. Flossbach Von Storch AG raised its holdings in Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after buying an additional 2,684,470 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Starbucks in the 1st quarter valued at about $190,270,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 7,250 shares of company stock valued at $653,183 over the last three months. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 0.5 %

SBUX traded up $0.46 on Friday, reaching $87.61. The company’s stock had a trading volume of 11,898,220 shares, compared to its average volume of 8,456,940. The stock has a 50 day moving average of $91.14 and a two-hundred day moving average of $94.42. The company has a market capitalization of $99.19 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm 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 posted $0.75 earnings per share. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business 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. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Ratings Changes

Several brokerages recently issued reports on SBUX. Wedbush restated a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, January 16th. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday. Finally, TD Cowen reiterated a “hold” rating and set a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.