Concentrum Wealth Management Acquires Shares of 2,829 Starbucks Co. (NASDAQ:SBUX)

Concentrum Wealth Management acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,829 shares of the coffee company’s stock, valued at approximately $272,000.

A number of other hedge funds have also recently modified their holdings of SBUX. Vanguard Group Inc. increased its position in shares of Starbucks by 0.4% during the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after buying an additional 387,632 shares during the period. Northern Trust Corp increased its position in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares during the period. Fisher Asset Management LLC increased its position in shares of Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after buying an additional 268,030 shares during the period. Invesco Ltd. increased its position in shares of Starbucks by 11.8% during the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after buying an additional 1,115,051 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Starbucks by 44.8% during the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock traded up $0.08 during midday trading on Thursday, reaching $74.52. 16,520,868 shares of the company traded hands, compared to its average volume of 9,228,101. The firm has a market capitalization of $84.37 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The business has a 50 day moving average of $89.76 and a two-hundred day moving average of $94.11. Starbucks Co. has a 12 month low of $72.67 and a 12 month high of $109.72.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.06%. Starbucks’s dividend payout ratio is currently 62.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SBUX shares. Guggenheim reduced their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and cut their price objective for the stock from $108.00 to $89.00 in a report on Wednesday. Piper Sandler cut their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Finally, BMO Capital Markets cut 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. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.39.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’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 transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. Insiders own 1.98% of the company’s stock.

Starbucks Company 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.