Starbucks Co. (NASDAQ:SBUX) Shares Bought by CX Institutional

CX Institutional raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,729 shares of the coffee company’s stock after buying an additional 1,449 shares during the period. CX Institutional’s holdings in Starbucks were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. St. Johns Investment Management Company LLC raised its stake in Starbucks by 4.2% in the fourth quarter. St. Johns Investment Management Company LLC now owns 4,901 shares of the coffee company’s stock valued at $447,000 after buying an additional 199 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Starbucks by 4.9% during the fourth quarter. Sound Income Strategies LLC now owns 9,925 shares of the coffee company’s stock worth $906,000 after purchasing an additional 464 shares in the last quarter. RFG Advisory LLC increased its position in shares of Starbucks by 4.7% during the fourth quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company’s stock worth $960,000 after purchasing an additional 472 shares in the last quarter. Brighton Jones LLC increased its position in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its position in shares of Starbucks by 19.1% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,954 shares of the coffee company’s stock worth $270,000 after purchasing an additional 473 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.81 on Friday. The business’s 50 day simple moving average is $95.66 and its 200-day simple moving average is $92.25. The firm has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.91 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBUX. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks 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.