Silverlake Wealth Management LLC Sells 302 Shares of Starbucks Co. (NASDAQ:SBUX)

Silverlake Wealth Management LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,327 shares of the coffee company’s stock after selling 302 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Starbucks were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SBUX. Freedom Wealth Alliance LLC purchased a new position in shares of Starbucks in the fourth quarter worth $26,000. Riggs Asset Managment Co. Inc. increased 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 purchasing an additional 300 shares during the period. Atticus Wealth Management LLC increased 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 purchasing an additional 200 shares during the period. First Capital Advisors Group LLC. purchased a new position in Starbucks during the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the 1st quarter valued at $37,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.6 %

SBUX stock traded down $1.47 during midday trading on Tuesday, hitting $90.06. The company’s stock had a trading volume of 1,983,270 shares, compared to its average volume of 8,421,346. The firm has a market capitalization of $101.97 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.98. Starbucks Co. has a 12 month low of $89.21 and a 12 month high of $115.48. The company has a 50 day moving average of $92.92 and a two-hundred day moving average of $95.05.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, analysts anticipate that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBUX. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, January 16th. BTIG Research lowered their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Barclays lowered their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Piper Sandler lowered their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.24.

Get Our Latest Research Report on Starbucks

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 transaction, the insider now directly 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 can be accessed through this link. Insiders sold 4,000 shares of company stock valued at $375,665 over the last three months. 1.98% of the stock is owned by company insiders.

About Starbucks

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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