8,266 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, Holdings Channel reports. The firm acquired 8,266 shares of the coffee company’s stock, valued at approximately $794,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allen Capital Group LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $462,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Starbucks by 5.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 395,502 shares of the coffee company’s stock valued at $37,972,000 after acquiring an additional 19,262 shares during the last quarter. Everence Capital Management Inc. increased its holdings in shares of Starbucks by 15.8% in the 4th quarter. Everence Capital Management Inc. now owns 30,132 shares of the coffee company’s stock valued at $2,893,000 after acquiring an additional 4,110 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in shares of Starbucks by 10.1% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,903 shares of the coffee company’s stock valued at $567,000 after acquiring an additional 543 shares during the last quarter. Finally, Main Street Research LLC boosted its position in Starbucks by 6.6% during the 4th quarter. Main Street Research LLC now owns 5,173 shares of the coffee company’s stock valued at $497,000 after purchasing an additional 322 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The stock was 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 legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 4,000 shares of company stock valued at $375,665. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBUX. Morgan Stanley reduced their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. StockNews.com lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, HSBC initiated coverage on Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.43.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.25 during trading hours on Wednesday, hitting $85.67. 524,191 shares of the company’s stock traded hands, compared to its average volume of 8,282,680. The firm has a market cap of $97.00 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.36 and a beta of 0.97. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The stock’s fifty day moving average price is $91.51 and its two-hundred day moving average price is $94.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.66%. Starbucks’s dividend payout ratio (DPR) 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.