Obermeyer Wealth Partners Has $376,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Obermeyer Wealth Partners lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,116 shares of the coffee company’s stock after selling 133 shares during the quarter. Obermeyer Wealth Partners’ holdings in Starbucks were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SBUX. Aprio Wealth Management LLC raised its stake in shares of Starbucks by 23.4% during the 4th quarter. Aprio Wealth Management LLC now owns 3,077 shares of the coffee company’s stock worth $281,000 after purchasing an additional 584 shares in the last quarter. Matrix Trust Co raised its holdings in Starbucks by 605.3% in the 4th quarter. Matrix Trust Co now owns 1,065 shares of the coffee company’s stock valued at $97,000 after acquiring an additional 914 shares during the period. Capital Investment Advisors LLC raised its holdings in Starbucks by 17.6% in the 4th quarter. Capital Investment Advisors LLC now owns 18,313 shares of the coffee company’s stock valued at $1,671,000 after acquiring an additional 2,744 shares during the period. Wedmont Private Capital raised its holdings in Starbucks by 1.6% in the 4th quarter. Wedmont Private Capital now owns 13,512 shares of the coffee company’s stock valued at $1,246,000 after acquiring an additional 212 shares during the period. Finally, Signet Financial Management LLC bought a new position in Starbucks during the 4th quarter worth $661,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Robert W. Baird reaffirmed a “neutral” rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Citigroup decreased their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $98.72.

Starbucks Price Performance

SBUX opened at $86.88 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $98.73 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.59 and a beta of 0.99. The company’s 50 day moving average price is $89.11 and its two-hundred day moving average price is $96.73.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company 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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is presently 88.41%.

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.