Aegis Wealth Management LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Aegis Wealth Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,365 shares of the coffee company’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC purchased a new position in Starbucks in the 4th quarter valued at about $26,000. Collier Financial purchased a new position in Starbucks in the 4th quarter valued at about $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. UBS Group cut their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. BMO Capital Markets decreased their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus dropped their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.72.

Starbucks Trading Up 3.1%

Shares of NASDAQ SBUX opened at $87.01 on Wednesday. The business has a 50 day simple moving average of $86.24 and a 200-day simple moving average of $95.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $98.88 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is presently 88.41%.

About Starbucks

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.