Naviter Wealth LLC Has $1.51 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Naviter Wealth LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 22.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,561 shares of the coffee company’s stock after buying an additional 3,050 shares during the period. Naviter Wealth LLC’s holdings in Starbucks were worth $1,514,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth $26,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the fourth quarter valued at about $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter worth about $30,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen restated a “hold” rating and set a $85.00 price objective on shares of Starbucks in a report on Thursday, June 13th. Wedbush reiterated a “neutral” rating and issued a $81.00 target price on shares of Starbucks in a research note on Friday, June 28th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.54.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Down 0.4 %

Shares of NASDAQ SBUX opened at $76.83 on Wednesday. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The firm’s fifty day moving average is $79.44 and its 200 day moving average is $87.80. The company has a market cap of $87.03 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.70 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

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.