Baker Tilly Wealth Management LLC Has $925,000 Position in Starbucks Co. (NASDAQ:SBUX)

Baker Tilly Wealth Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,138 shares of the coffee company’s stock after selling 585 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Starbucks were worth $925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Dakota Wealth Management increased its position in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its position in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its position in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Aljian Capital Management LLC raised its holdings in shares of Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.5 %

Shares of Starbucks stock traded down $0.48 during trading on Friday, hitting $92.12. 1,257,551 shares of the stock were exchanged, compared to its average volume of 6,022,889. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market capitalization of $104.45 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The company has a fifty day moving average price of $96.26 and a 200-day moving average price of $90.88.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.65%. Starbucks’s payout ratio is currently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SBUX shares. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wedbush lowered their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

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.