Marks Group Wealth Management Inc Sells 1,467 Shares of Starbucks Co. (NASDAQ:SBUX)

Marks Group Wealth Management Inc lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,206 shares of the coffee company’s stock after selling 1,467 shares during the period. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $2,036,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its position in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the period. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the period. Financial Connections Group Inc. purchased a new stake in Starbucks during the 4th quarter valued at $38,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks in the 4th quarter worth about $38,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $40,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,000 shares of company stock valued at $629,738 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 0.2 %

NASDAQ SBUX traded down $0.17 during trading hours on Tuesday, hitting $88.01. 3,200,190 shares of the company’s stock traded hands, compared to its average volume of 8,389,827. The business’s fifty day moving average price is $90.80 and its two-hundred day moving average price is $94.42. The firm has a market capitalization of $99.64 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks Co. will post 4.01 EPS for the current fiscal 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Jefferies Financial Group dropped their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Guggenheim lowered their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley lowered their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Wedbush reissued a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Hold” and an average target price of $106.68.

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.