Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,024 shares of the coffee company’s stock after acquiring an additional 6,192 shares during the period. Alpha Cubed Investments LLC’s holdings in Starbucks were worth $11,619,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC boosted its holdings in shares of Starbucks by 8.2% in the 4th quarter. Brighton Jones LLC now owns 136,399 shares of the coffee company’s stock valued at $13,096,000 after acquiring an additional 10,365 shares during the last quarter. Mission Wealth Management LP boosted its holdings in shares of Starbucks by 7.5% in the 4th quarter. Mission Wealth Management LP now owns 29,813 shares of the coffee company’s stock valued at $2,862,000 after acquiring an additional 2,071 shares during the last quarter. Auxano Advisors LLC boosted its holdings in Starbucks by 3.8% during the fourth quarter. Auxano Advisors LLC now owns 21,104 shares of the coffee company’s stock worth $2,026,000 after buying an additional 779 shares in the last quarter. Norden Group LLC boosted its holdings in Starbucks by 21.3% during the fourth quarter. Norden Group LLC now owns 9,571 shares of the coffee company’s stock worth $919,000 after buying an additional 1,682 shares in the last quarter. Finally, Field & Main Bank boosted its holdings in Starbucks by 5.4% during the fourth quarter. Field & Main Bank now owns 9,930 shares of the coffee company’s stock worth $953,000 after buying an additional 505 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.2 %

SBUX stock traded up $0.16 during mid-day trading on Tuesday, hitting $88.49. 14,368,134 shares of the company were exchanged, compared to its average volume of 8,439,514. The firm has a market capitalization of $100.19 billion, a P/E ratio of 23.68, a PEG ratio of 1.48 and a beta of 0.98. The business has a fifty day simple moving average of $90.27 and a 200-day simple moving average of $94.27. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

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

Starbucks Dividend Announcement

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

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SBUX shares. Jefferies Financial Group lowered their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Robert W. Baird lowered their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Finally, BMO Capital Markets decreased their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $106.55.

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.