Wynn Capital LLC Invests $842,000 in Starbucks Co. (NASDAQ:SBUX)

Wynn Capital LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, HoldingsChannel reports. The fund acquired 8,769 shares of the coffee company’s stock, valued at approximately $842,000.

A number of other institutional investors have also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% in 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. Atticus Wealth Management LLC lifted its position in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of Starbucks in the fourth quarter worth about $38,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Starbucks in the fourth quarter worth about $38,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Starbucks in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,000 shares of company stock valued at $629,738 in the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX traded up $0.88 during trading on Wednesday, reaching $88.75. 7,178,942 shares of the company traded hands, compared to its average volume of 8,408,188. The stock’s 50 day moving average price is $90.68 and its two-hundred day moving average price is $94.39. The company has a market cap of $100.48 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.44 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for 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 firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities research analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBUX. Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Guggenheim dropped their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen investment 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 presently has an average rating of “Hold” and a consensus price target of $106.68.

Starbucks 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.