Peloton Wealth Strategists Sells 715 Shares of Starbucks Co. (NASDAQ:SBUX)

Peloton Wealth Strategists lowered its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,082 shares of the coffee company’s stock after selling 715 shares during the period. Starbucks accounts for approximately 2.5% of Peloton Wealth Strategists’ portfolio, making the stock its 8th largest position. Peloton Wealth Strategists’ holdings in Starbucks were worth $6,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Starbucks by 150.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,375,236 shares of the coffee company’s stock valued at $482,632,000 after acquiring an additional 2,629,721 shares in the last quarter. Wellington Management Group LLP increased its stake in Starbucks by 86.6% during the 3rd quarter. Wellington Management Group LLP now owns 5,239,631 shares of the coffee company’s stock valued at $577,984,000 after purchasing an additional 2,432,001 shares in the last quarter. Man Group plc increased its stake in Starbucks by 180.5% during the 3rd quarter. Man Group plc now owns 1,639,175 shares of the coffee company’s stock valued at $180,817,000 after purchasing an additional 1,054,795 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Starbucks during the 3rd quarter valued at $100,376,000. Finally, Brown Advisory Inc. increased its stake in Starbucks by 26.1% during the 4th quarter. Brown Advisory Inc. now owns 3,805,690 shares of the coffee company’s stock valued at $445,151,000 after purchasing an additional 787,670 shares in the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.

In other news, CEO Howard D. Schultz purchased 137,500 shares of the stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is owned by corporate insiders.

A number of brokerages have commented on SBUX. Royal Bank of Canada decreased their price target on shares of Starbucks from $122.00 to $108.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 2nd. Cowen decreased their price target on shares of Starbucks from $115.00 to $94.00 in a research note on Wednesday, May 4th. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $87.00 in a research note on Wednesday, April 13th. BTIG Research decreased their price target on shares of Starbucks from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, March 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average target price of $101.96.

NASDAQ SBUX traded up $5.70 during trading on Friday, hitting $75.60. 18,156,289 shares of the company’s stock traded hands, compared to its average volume of 11,293,242. The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.04 and a beta of 0.97. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $126.32. The business has a 50 day moving average of $81.82 and a 200-day moving average of $97.13.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. Starbucks’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, research analysts expect that Starbucks Co. will post 2.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, May 12th. Starbucks’s dividend payout ratio (DPR) is presently 52.55%.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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