InvesTrust Invests $5.91 Million in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

InvesTrust acquired a new stake in Starbucks Co. (NASDAQ:SBUX – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 64,886 shares of the coffee company’s stock, valued at approximately $5,907,000.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter worth about $25,000. DT Investment Partners LLC grew its position in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in Starbucks during the 3rd quarter worth approximately $49,000. Friedenthal Financial acquired a new stake in Starbucks during the 3rd quarter worth approximately $50,000. Finally, Fairfield Financial Advisors LTD bought a new position in Starbucks in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays cut their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Check Out Our Latest Report on SBUX

Starbucks Stock Performance

Shares of SBUX stock traded down $0.19 on Wednesday, hitting $92.65. The company’s stock had a trading volume of 2,935,684 shares, compared to its average volume of 6,373,765. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock’s 50 day moving average is $96.46 and its 200-day moving average is $90.86. The company has a market capitalization of $105.05 billion, a PE ratio of 27.99, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. On average, research analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

About Starbucks

(Free Report)

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.

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