Keudell Morrison Wealth Management Purchases 370 Shares of Starbucks Co. (NASDAQ:SBUX)

Keudell Morrison Wealth Management raised its position in Starbucks Co. (NASDAQ:SBUX) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,867 shares of the coffee company’s stock after acquiring an additional 370 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Starbucks were worth $900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dakota Wealth Management raised its position in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. raised its holdings in Starbucks by 31.2% in the 3rd 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 period. Maia Wealth LLC lifted its position in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC grew its holdings in Starbucks by 48.5% during the third 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 period. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted 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 issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.52.

Starbucks Trading Up 0.4 %

Shares of SBUX opened at $109.00 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34. The company’s fifty day simple moving average is $96.08 and its 200-day simple moving average is $93.11. The company has a market cap of $123.81 billion, a P/E ratio of 35.16, a P/E/G ratio of 3.47 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period in the prior year, the company earned $0.90 earnings per share. Analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm 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 $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.