Viawealth LLC Has $641,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Posted by Defense World Staff on Sep 9th, 2023

Viawealth LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,154 shares of the coffee company’s stock after selling 686 shares during the period. Viawealth LLC’s holdings in Starbucks were worth $641,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. America First Investment Advisors LLC bought a new stake in Starbucks during the first quarter worth about $25,000. Cranbrook Wealth Management LLC bought a new stake in Starbucks during the first quarter worth about $26,000. Freedom Wealth Alliance LLC bought a new stake in Starbucks during the fourth quarter worth about $26,000. Princeton Global Asset Management LLC bought a new stake in Starbucks during the first quarter worth about $29,000. Finally, Delta Asset Management LLC TN bought a new stake in Starbucks during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 70.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and set a $104.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Wedbush decreased their price target on shares of Starbucks from $112.00 to $105.00 in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Starbucks in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup decreased their price target on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating on the stock in a research note on Monday, July 24th. Finally, TD Cowen reissued an “outperform” rating and set a $117.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $113.70.

View Our Latest Stock Analysis on Starbucks

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 679 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares in the company, valued at $5,508,956.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

SBUX opened at $95.28 on Friday. The firm’s fifty day moving average is $99.32 and its two-hundred day moving average is $101.68. The firm has a market cap of $109.13 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. Starbucks Co. has a twelve month low of $82.43 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the business posted $0.84 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.45 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.23%. Starbucks’s payout ratio is 64.63%.

About Starbucks

(Free Report)

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.