Monument Capital Management Buys 972 Shares of Starbucks Co. (NASDAQ:SBUX)

Monument Capital Management lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 20.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,825 shares of the coffee company’s stock after purchasing an additional 972 shares during the period. Monument Capital Management’s holdings in Starbucks were worth $559,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during 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 increased its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $38,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $38,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $40,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on SBUX shares. TD Cowen reiterated a “hold” rating and set a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Morgan Stanley decreased their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday. Wells Fargo & Company restated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a research note on Monday, April 1st. Finally, Guggenheim decreased their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.68.

Starbucks Trading Up 0.7 %

NASDAQ:SBUX opened at $88.18 on Tuesday. The firm has a market cap of $99.84 billion, a P/E ratio of 23.58, a PEG ratio of 1.42 and a beta of 0.98. The stock’s 50 day simple moving average is $90.80 and its 200-day simple moving average is $94.42. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. Research analysts forecast that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 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.