Miracle Mile Advisors LLC Buys 35,952 Shares of Starbucks Co. (NASDAQ:SBUX)

Miracle Mile Advisors LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 56.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,823 shares of the coffee company’s stock after acquiring an additional 35,952 shares during the period. Miracle Mile Advisors LLC’s holdings in Starbucks were worth $9,109,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Dakota Wealth Management grew its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. lifted its position in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its stake in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC increased its holdings in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its stake in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred 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 directly owns 65,648 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.4 %

Shares of Starbucks stock traded up $1.26 on Monday, hitting $93.51. The stock had a trading volume of 6,904,897 shares, compared to its average volume of 6,958,891. The stock’s 50-day simple moving average is $96.13 and its two-hundred day simple moving average is $91.13. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The stock has a market cap of $106.02 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Royal Bank of Canada began coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Barclays reduced their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Get Our Latest Report on SBUX

Starbucks Company Profile

(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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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