Park Place Capital Corp Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Park Place Capital Corp boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,548 shares of the coffee company’s stock after buying an additional 1,257 shares during the quarter. Park Place Capital Corp’s holdings in Starbucks were worth $1,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AE Wealth Management LLC raised its holdings in shares of Starbucks by 42.1% during the 2nd quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after buying an additional 6,841 shares during the period. DRW Securities LLC raised its stake in shares of Starbucks by 20.6% in the 2nd quarter. DRW Securities LLC now owns 6,609 shares of the coffee company’s stock worth $513,000 after buying an additional 1,130 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Starbucks by 73.1% during the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after purchasing an additional 18,420 shares during the period. Lombard Odier Asset Management USA Corp purchased a new position in shares of Starbucks during the second quarter valued at $328,000. Finally, Resources Management Corp CT ADV grew its stake in Starbucks by 15.8% in the second quarter. Resources Management Corp CT ADV now owns 41,198 shares of the coffee company’s stock valued at $3,207,000 after purchasing an additional 5,617 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Redburn Atlantic reissued 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. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Trading Down 0.2 %

Shares of SBUX stock opened at $97.81 on Wednesday. The company has a 50 day simple moving average of $95.72 and a two-hundred day simple moving average of $92.00. The stock has a market cap of $110.90 billion, a P/E ratio of 29.52, a P/E/G ratio of 2.82 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the company posted $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current 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 given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Starbucks Company Profile

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.