Chicago Capital LLC Purchases 6,149 Shares of Starbucks Co. (NASDAQ:SBUX)

Chicago Capital LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,278 shares of the coffee company’s stock after acquiring an additional 6,149 shares during the period. Chicago Capital LLC’s holdings in Starbucks were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in Starbucks during the 3rd quarter worth about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks in the 3rd quarter valued at about $50,000. Capital Performance Advisors LLP bought a new position in shares of Starbucks during the third quarter worth about $71,000. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of Starbucks by 61.0% during the third quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company’s stock worth $71,000 after buying an additional 275 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SBUX shares. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Performance

SBUX stock opened at $107.68 on Monday. The company has a market capitalization of $122.31 billion, a P/E ratio of 34.74, a PEG ratio of 3.40 and a beta of 1.00. The company has a fifty day moving average price of $96.19 and a 200-day moving average price of $93.48. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $110.34.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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 2.27%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

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.