Starbucks Co. (NASDAQ:SBUX) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,728 shares of the coffee company’s stock after selling 7,340 shares during the quarter. SteelPeak Wealth LLC’s holdings in Starbucks were worth $1,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Regal Investment Advisors LLC lifted its position in Starbucks by 19.8% in the second quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock valued at $770,000 after purchasing an additional 1,634 shares during the period. Truist Financial Corp lifted its holdings in shares of Starbucks by 21.8% in the 2nd quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock valued at $62,816,000 after buying an additional 144,516 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in shares of Starbucks in the second quarter valued at approximately $316,000. Farmers National Bank grew its holdings in Starbucks by 4.7% during the second quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock worth $4,763,000 after acquiring an additional 2,737 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the second quarter worth $25,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 8.1 %

NASDAQ SBUX opened at $108.58 on Thursday. The business’s 50-day moving average price is $95.70 and its 200 day moving average price is $92.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.08. The company has a market capitalization of $123.11 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter last year, the company posted $0.90 EPS. Equities analysts predict that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.25%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.52.

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.