Brighton Jones LLC Has $13.10 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Brighton Jones LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,399 shares of the coffee company’s stock after acquiring an additional 10,365 shares during the period. Brighton Jones LLC’s holdings in Starbucks were worth $13,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its position in shares of Starbucks by 7.5% during the 4th quarter. Mission Wealth Management LP now owns 29,813 shares of the coffee company’s stock worth $2,862,000 after buying an additional 2,071 shares during the period. Auxano Advisors LLC raised its position in shares of Starbucks by 3.8% during the 4th quarter. Auxano Advisors LLC now owns 21,104 shares of the coffee company’s stock valued at $2,026,000 after acquiring an additional 779 shares during the last quarter. Norden Group LLC lifted its stake in shares of Starbucks by 21.3% in the 4th quarter. Norden Group LLC now owns 9,571 shares of the coffee company’s stock valued at $919,000 after purchasing an additional 1,682 shares during the period. Field & Main Bank boosted its position in shares of Starbucks by 5.4% in the 4th quarter. Field & Main Bank now owns 9,930 shares of the coffee company’s stock worth $953,000 after purchasing an additional 505 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Starbucks by 18.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 141,551 shares of the coffee company’s stock worth $13,590,000 after purchasing an additional 22,040 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.2 %

Shares of NASDAQ SBUX traded up $0.16 during midday trading on Tuesday, hitting $88.49. 14,368,134 shares of the company’s stock were exchanged, compared to its average volume of 8,439,514. The firm has a market capitalization of $100.19 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The company’s 50 day moving average price is $90.27 and its 200 day moving average price is $94.27.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.13). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SBUX shares. Barclays reduced their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. BTIG Research lowered their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Stephens reaffirmed an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Piper Sandler decreased their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, Citigroup dropped their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.55.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

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.