Sovran Advisors LLC Invests $548,000 in Starbucks Co. (NASDAQ:SBUX)

Sovran Advisors LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,892 shares of the coffee company’s stock, valued at approximately $548,000.

Other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management boosted its stake in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. raised its holdings in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares during the last quarter. Maia Wealth LLC boosted its position in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after buying an additional 7,596 shares during the period. Investment Management Corp of Ontario grew its holdings in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares during the last quarter. Finally, Aljian Capital Management LLC increased its position in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Starbucks Trading Up 1.8 %

Shares of NASDAQ:SBUX opened at $113.04 on Thursday. The stock has a fifty day simple moving average of $97.51 and a two-hundred day simple moving average of $95.37. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.19. The stock has a market capitalization of $128.40 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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. Wells Fargo & Company increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley boosted 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.