SteelPeak Wealth LLC Has $1.71 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

SteelPeak Wealth LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SBUX shares. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Redburn Atlantic reaffirmed a "sell" rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Finally, Citigroup upped their target price 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and a consensus target price of $105.52.

Starbucks Price Performance

NASDAQ SBUX traded up $0.42 on Thursday, reaching $109.00. The stock had a trading volume of 14,995,217 shares, compared to its average volume of 9,794,018. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $110.34. The company has a market cap of $123.82 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The firm has a fifty day moving average of $95.90 and a two-hundred day moving average of $93.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company posted $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, February 14th. Starbucks's payout ratio is presently 78.71%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company's stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.98% of the company's stock.

About Starbucks

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.