Starbucks Co. (NASDAQ:SBUX) Stake Boosted by Tanager Wealth Management LLP

Tanager Wealth Management LLP increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,446 shares of the coffee company’s stock after purchasing an additional 272 shares during the quarter. Tanager Wealth Management LLP’s holdings in Starbucks were worth $331,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new stake in Starbucks in the fourth quarter valued at $26,000. Riggs Asset Managment Co. Inc. lifted its stake in Starbucks by 1,578.9% in the third 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 last quarter. Atticus Wealth Management LLC lifted its stake in Starbucks by 153.8% in the fourth 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 last quarter. First Capital Advisors Group LLC. bought a new stake in Starbucks in the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the first quarter valued at $37,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.46 during trading on Friday, hitting $87.61. 11,898,220 shares of the stock traded hands, compared to its average volume of 8,456,940. The stock has a market cap of $99.19 billion, a P/E ratio of 23.38, a PEG ratio of 1.39 and a beta of 0.97. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a fifty day moving average price of $91.14 and a two-hundred day moving average price of $94.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 7,250 shares of company stock valued at $653,183. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBUX. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. BMO Capital Markets lowered their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Stifel Nicolaus lowered their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Finally, Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.