Starbucks Co. (NASDAQ:SBUX) Shares Bought by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,356 shares of the coffee company’s stock after purchasing an additional 395 shares during the period. Starbucks comprises 0.7% of Fortitude Advisory Group L.L.C.’s investment portfolio, making the stock its 25th biggest position. Fortitude Advisory Group L.L.C.’s holdings in Starbucks were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY increased its position in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the period. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in Starbucks during the fourth quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Starbucks during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on SBUX shares. BTIG Research cut their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Sixteen 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.com, Starbucks currently has an average rating of “Hold” and an average price target of $100.39.

Starbucks Price Performance

Starbucks stock traded down $14.05 during trading hours on Wednesday, hitting $74.44. The stock had a trading volume of 66,303,717 shares, compared to its average volume of 9,144,704. The stock has a market capitalization of $84.28 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.49 and a beta of 0.97. Starbucks Co. has a 1-year low of $72.67 and a 1-year high of $114.56. The stock’s fifty day moving average is $90.17 and its two-hundred day moving average is $94.25.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is currently 60.96%.

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.