Cairn Investment Group Inc. Acquires 645 Shares of Starbucks Co. (NASDAQ:SBUX)

Cairn Investment Group Inc. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 58,358 shares of the coffee company’s stock after buying an additional 645 shares during the period. Starbucks accounts for approximately 3.1% of Cairn Investment Group Inc.’s holdings, making the stock its 8th largest holding. Cairn Investment Group Inc.’s holdings in Starbucks were worth $5,325,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Regal Investment Advisors LLC raised its holdings in shares of Starbucks by 19.8% in the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock valued at $770,000 after buying an additional 1,634 shares during the period. Truist Financial Corp raised its holdings in shares of Starbucks by 21.8% in the 2nd quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock valued at $62,816,000 after buying an additional 144,516 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at $316,000. Farmers National Bank raised its holdings in shares of Starbucks by 4.7% in the 2nd quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock valued at $4,763,000 after buying an additional 2,737 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 8.1 %

Shares of NASDAQ SBUX opened at $108.58 on Thursday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $110.08. The business has a 50-day moving average price of $95.70 and a 200 day moving average price of $92.89. The stock has a market cap of $123.11 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same quarter in the previous year, the business posted $0.90 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.25%. Starbucks’s payout ratio is 73.72%.

Analysts Set New Price Targets

Several research firms recently issued reports on SBUX. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Wedbush upped their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.52.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by insiders.

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.