Lecap Asset Management Ltd. Makes New $558,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Lecap Asset Management Ltd. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,814 shares of the coffee company’s stock, valued at approximately $558,000.

A number of other large investors have also made changes to their positions in SBUX. Freedom Wealth Alliance LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Atticus Wealth Management LLC lifted its holdings in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in Starbucks in the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the first quarter valued at approximately $37,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SBUX. BMO Capital Markets decreased their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, BTIG Research decreased their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $107.71.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was 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 $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by company insiders.

Starbucks Price Performance

NASDAQ:SBUX opened at $84.92 on Monday. The business’s fifty day moving average price is $91.86 and its 200 day moving average price is $94.61. The firm has a market capitalization of $96.15 billion, a PE 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 quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’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 business posted $0.75 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.68%. Starbucks’s dividend payout ratio is presently 60.96%.

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.