Everpar Advisors LLC Purchases New Stake in Starbucks Co. (NASDAQ:SBUX)

Everpar Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,897 shares of the coffee company’s stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gryphon Financial Partners LLC grew its position in Starbucks by 96.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares during the period. Patrick M Sweeney & Associates Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $456,000. Palisade Asset Management LLC grew its position in Starbucks by 10.1% in the fourth quarter. Palisade Asset Management LLC now owns 10,486 shares of the coffee company’s stock worth $1,007,000 after acquiring an additional 960 shares during the period. Charles Schwab Investment Advisory Inc. grew its position in Starbucks by 6.4% in the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 2,404 shares of the coffee company’s stock worth $231,000 after acquiring an additional 144 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after acquiring an additional 27,496 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.4 %

Starbucks stock traded up $1.00 during midday trading on Wednesday, reaching $73.50. The company’s stock had a trading volume of 24,468,960 shares, compared to its average volume of 9,881,239. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $108.11. The company has a market cap of $83.25 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.58 and a beta of 0.97. The business has a 50-day simple moving average of $88.03 and a 200-day simple moving average of $93.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.63 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SBUX. Wedbush lowered their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Finally, Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen investment 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.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $96.43.

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.