Masso Torrence Wealth Management Inc. Invests $213,000 in Starbucks Co. (NASDAQ:SBUX)

Masso Torrence Wealth Management Inc. bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, HoldingsChannel reports. The firm bought 2,220 shares of the coffee company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Investment Advisors LLC raised its holdings in shares of Starbucks by 1.0% during the third quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock valued at $1,160,000 after purchasing an additional 128 shares during the period. Montecito Bank & Trust increased its position in shares of Starbucks by 5.7% during the third quarter. Montecito Bank & Trust now owns 7,122 shares of the coffee company’s stock worth $650,000 after acquiring an additional 382 shares in the last quarter. 1900 Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter worth about $264,000. DAVENPORT & Co LLC increased its position in shares of Starbucks by 1.1% during the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock worth $9,569,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Park Place Capital Corp increased its position in shares of Starbucks by 5.0% during the third quarter. Park Place Capital Corp now owns 7,701 shares of the coffee company’s stock worth $703,000 after acquiring an additional 364 shares in the last quarter. 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 dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on SBUX. BTIG Research decreased their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Robert W. Baird reduced their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $106.68.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.21 on Tuesday, hitting $87.97. The stock had a trading volume of 3,918,918 shares, compared to its average volume of 8,400,346. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The company has a market capitalization of $99.60 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. The firm has a 50-day moving average of $90.80 and a 200-day moving average of $94.42.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 4.01 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. 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 presently 60.96%.

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.