Lafayette Investments Inc. Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Lafayette Investments Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 63,373 shares of the coffee company’s stock after acquiring an additional 1,530 shares during the period. Starbucks comprises approximately 1.5% of Lafayette Investments Inc.’s holdings, making the stock its 22nd biggest holding. Lafayette Investments Inc.’s holdings in Starbucks were worth $6,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. Riggs Asset Managment Co. Inc. increased its position in shares of Starbucks by 1,578.9% in the third 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. Atticus Wealth Management LLC increased its position in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks in the second quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the first quarter worth $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.9 %

Starbucks stock traded up $0.79 during trading hours on Friday, hitting $87.94. 3,482,560 shares of the company traded hands, compared to its average volume of 8,341,360. The firm has a market cap of $99.57 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.39 and a beta of 0.97. The firm’s 50-day simple moving average is $91.14 and its two-hundred day simple moving average is $94.42. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, equities research analysts predict that Starbucks Co. will post 4.03 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 given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SBUX. Stifel Nicolaus lowered their price target on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. Jefferies Financial Group lowered their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday. Finally, BMO Capital Markets lowered their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.43.

Insider Transactions at Starbucks

In related 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 transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $653,183 over the last ninety days. Corporate 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.