Cyndeo Wealth Partners LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Cyndeo Wealth Partners LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,586 shares of the coffee company’s stock after purchasing an additional 1,023 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Starbucks were worth $1,148,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter worth about $25,000. DT Investment Partners LLC raised its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter worth about $49,000. Friedenthal Financial acquired a new stake in Starbucks during the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks during the third quarter worth about $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SBUX shares. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wedbush decreased their target price 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. Citigroup upped their target price 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. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Trading Up 0.8 %

SBUX opened at $98.81 on Friday. The company’s 50 day moving average is $95.66 and its 200-day moving average is $92.25. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company has a market cap of $112.03 billion, a P/E ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. On average, equities analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

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.