Starbucks Co. (NASDAQ:SBUX) Shares Bought by CX Institutional

CX Institutional raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 23.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,729 shares of the coffee company’s stock after acquiring an additional 1,449 shares during the period. CX Institutional’s holdings in Starbucks were worth $705,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter worth $25,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Starbucks during the 3rd quarter worth $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays decreased their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $98.81 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company’s 50-day simple moving average is $95.66 and its 200-day simple moving average is $92.25. The stock has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is 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.