Howard Financial Services LTD. Buys Shares of 2,653 Starbucks Co. (NASDAQ:SBUX)

Howard Financial Services LTD. purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,653 shares of the coffee company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth $25,000. DT Investment Partners LLC lifted its holdings in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter valued at about $49,000. Friedenthal Financial bought a new stake in shares of Starbucks during the 3rd quarter worth about $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on SBUX shares. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wedbush reduced their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of SBUX opened at $95.13 on Friday. The company has a market capitalization of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. The company’s 50 day moving average price is $95.89 and its 200 day moving average price is $91.38. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company posted $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

About Starbucks

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.