FAS Wealth Partners Inc. Has $2.36 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

FAS Wealth Partners Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 11.4% during the fourth quarter, HoldingsChannel reports. The firm owned 24,606 shares of the coffee company’s stock after acquiring an additional 2,523 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Starbucks were worth $2,362,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the last quarter. State Street Corp lifted its stake in shares of Starbucks by 3.4% in the 2nd quarter. State Street Corp now owns 45,619,709 shares of the coffee company’s stock valued at $4,519,088,000 after acquiring an additional 1,499,524 shares during the last quarter. Morgan Stanley lifted its stake in shares of Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Starbucks in the 4th quarter valued at $1,222,931,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. HSBC initiated coverage on Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Morgan Stanley raised Starbucks from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $112.00 to $120.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lowered their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Finally, BTIG Research lowered their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $109.24.

Read Our Latest Analysis on SBUX

Starbucks Price Performance

Shares of SBUX opened at $89.30 on Wednesday. The stock has a 50-day moving average of $92.92 and a 200-day moving average of $95.05. The company has a market cap of $101.11 billion, a PE ratio of 23.88, a P/E/G ratio of 1.46 and a beta of 0.98. Starbucks Co. has a one year low of $89.21 and a one year high of $115.48.

Starbucks (NASDAQ:SBUXGet Free Report) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm 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 business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. Analysts expect that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.55%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 4,000 shares of company stock worth $375,665 in the last three months. Company insiders own 1.98% of the company’s stock.

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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