Starbucks Co. (NASDAQ:SBUX) Stock Holdings Increased by Zhang Financial LLC

Zhang Financial LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,116 shares of the coffee company’s stock after acquiring an additional 170 shares during the quarter. Zhang Financial LLC’s holdings in Starbucks were worth $284,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Bridges Investment Management Inc. lifted its holdings in Starbucks by 21.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after acquiring an additional 747 shares during the last quarter. AE Wealth Management LLC boosted its holdings in Starbucks by 42.1% during the second quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock worth $1,798,000 after buying an additional 6,841 shares in the last quarter. Pacer Advisors Inc. grew its position in Starbucks by 0.9% in the second quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock worth $10,442,000 after buying an additional 1,182 shares during the last quarter. Holderness Investments Co. increased its holdings in shares of Starbucks by 8.1% in the second quarter. Holderness Investments Co. now owns 3,748 shares of the coffee company’s stock valued at $292,000 after buying an additional 280 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in Starbucks by 8,935.9% during the second quarter. Frank Rimerman Advisors LLC now owns 14,096 shares of the coffee company’s stock valued at $1,097,000 after buying an additional 13,940 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction 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 $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada began coverage on Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, BTIG Research increased their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Up 0.7 %

Shares of SBUX stock opened at $95.13 on Tuesday. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock has a 50-day moving average price of $95.84 and a 200 day moving average price of $91.71.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. Starbucks’s dividend payout ratio is presently 73.72%.

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.