Hidden Cove Wealth Management LLC Invests $380,000 in Starbucks Co. (NASDAQ:SBUX)

Hidden Cove Wealth Management LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,160 shares of the coffee company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in Starbucks during the fourth quarter valued at approximately $27,000. DT Investment Partners LLC boosted its stake in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the third quarter worth $49,000. Finally, Friedenthal Financial purchased a new position in Starbucks in the third quarter worth $50,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.8 %

Starbucks stock opened at $113.04 on Thursday. The firm has a market cap of $128.40 billion, a PE ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00. The stock’s 50 day simple moving average is $97.51 and its two-hundred day simple moving average is $95.37. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.19.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities research analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SBUX shares. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

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.