Invesco LLC Purchases 501 Shares of Starbucks Co. (NASDAQ:SBUX)

Invesco LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,972 shares of the coffee company’s stock after buying an additional 501 shares during the quarter. Invesco LLC’s holdings in Starbucks were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $26,000. Riggs Asset Managment Co. Inc. boosted its position 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 purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in Starbucks during the second quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Stifel Nicolaus cut their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Morgan Stanley dropped their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday. BTIG Research dropped their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a research note on Monday, April 1st. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $107.71.

Insider Buying and Selling

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 4,000 shares of company stock valued at $375,665. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Up 1.0 %

NASDAQ:SBUX traded up $0.86 on Monday, reaching $85.78. The stock had a trading volume of 3,801,982 shares, compared to its average volume of 8,298,357. The company has a 50-day moving average of $91.86 and a 200 day moving average of $94.61. The stock has a market cap of $97.12 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

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.