Oakworth Capital Inc. Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Oakworth Capital Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,254 shares of the coffee company’s stock after buying an additional 350 shares during the quarter. Oakworth Capital Inc.’s holdings in Starbucks were worth $408,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SBUX. Quilter Plc purchased a new stake in shares of Starbucks during the first quarter valued at approximately $208,530,000. Freedom Wealth Alliance LLC purchased a new stake in Starbucks during the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its stake in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in shares of Starbucks in the second quarter worth $35,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SBUX shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Piper Sandler cut their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Finally, BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $107.43.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,250 shares of company stock worth $653,183 in the last quarter. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.9 %

Shares of SBUX stock opened at $86.21 on Thursday. The stock has a market capitalization of $97.61 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. The stock’s 50-day moving average price is $91.33 and its 200-day moving average price is $94.47. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.64%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.