2,912 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by Steele Capital Management Inc.

Steele Capital Management Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,912 shares of the coffee company’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Orca Investment Management LLC raised its stake in shares of Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares in the last quarter. Cypress Capital Management LLC WY increased its stake in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Naviter Wealth LLC boosted its holdings in Starbucks by 21.4% in the fourth quarter. Naviter Wealth LLC now owns 13,511 shares of the coffee company’s stock worth $1,297,000 after purchasing an additional 2,380 shares in the last quarter. Investment House LLC increased its position in Starbucks by 3.7% during the fourth quarter. Investment House LLC now owns 8,532 shares of the coffee company’s stock worth $819,000 after buying an additional 307 shares during the last quarter. Finally, Choreo LLC boosted its stake in shares of Starbucks by 24.7% during the 4th quarter. Choreo LLC now owns 29,236 shares of the coffee company’s stock worth $2,807,000 after acquiring an additional 5,797 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 7,250 shares of company stock valued at $651,738 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Gordon Haskett lowered 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. Piper Sandler reduced their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $106.55.

Starbucks Stock Down 0.0 %

Shares of NASDAQ SBUX traded down $0.01 during trading on Tuesday, reaching $88.32. The company had a trading volume of 1,735,883 shares, compared to its average volume of 8,297,197. The stock has a market cap of $100.00 billion, a P/E ratio of 23.63, a PEG ratio of 1.48 and a beta of 0.98. The company’s fifty day moving average price is $90.27 and its 200-day moving average price is $94.27. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion during 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 revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.99 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 paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

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.