Zhang Financial LLC Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Zhang Financial LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,116 shares of the coffee company’s stock after purchasing an additional 170 shares during the quarter. Zhang Financial LLC’s holdings in Starbucks were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Dakota Wealth Management boosted its holdings in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. grew its holdings in shares of Starbucks by 31.2% during the third 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 increased its position in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its holdings in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of 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 purchasing an additional 12,300 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBUX shares. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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 target price for the company. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Barclays lowered 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Price Performance

Shares of SBUX opened at $95.13 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. The firm has a 50 day simple moving average of $95.84 and a 200-day simple moving average of $91.71.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 EPS. On average, equities analysts expect that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

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.