Wendell David Associates Inc. Buys 4,365 Shares of Starbucks Co. (NASDAQ:SBUX)

Wendell David Associates Inc. grew its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 18.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 28,029 shares of the coffee company’s stock after acquiring an additional 4,365 shares during the quarter. Wendell David Associates Inc.’s holdings in Starbucks were worth $2,691,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SBUX. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock worth $9,756,001,000 after buying an additional 387,632 shares during the last quarter. State Street Corp lifted its position in shares of Starbucks by 3.4% during the 2nd quarter. State Street Corp now owns 45,619,709 shares of the coffee company’s stock worth $4,519,088,000 after buying an additional 1,499,524 shares during the last quarter. Morgan Stanley lifted 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 worth $2,650,462,000 after buying an additional 8,451,599 shares during the last quarter. Northern Trust Corp lifted its position in shares of Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after buying an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Starbucks during the 4th quarter worth $1,222,931,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SBUX shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday. Citigroup lowered their target price on Starbucks from $103.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. lowered their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, March 19th. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. Finally, BTIG Research lowered their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $109.24.

View Our Latest Analysis on Starbucks

Starbucks Price Performance

NASDAQ SBUX opened at $91.53 on Tuesday. The business has a 50 day simple moving average of $92.95 and a 200 day simple moving average of $95.09. Starbucks Co. has a one year low of $89.21 and a one year high of $115.48. The stock has a market capitalization of $103.63 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.45 and a beta of 0.98.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 4.06 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.49%. Starbucks’s payout ratio is currently 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 4,000 shares of company stock worth $375,665. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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