Bleakley Financial Group LLC Has $1.51 Million Position in Starbucks Co. (NASDAQ:SBUX)

Bleakley Financial Group LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,549 shares of the coffee company’s stock after acquiring an additional 552 shares during the period. Bleakley Financial Group LLC’s holdings in Starbucks were worth $1,510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new position in shares of Starbucks during the fourth quarter worth $25,000. DT Investment Partners LLC lifted its holdings 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 in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the third quarter worth about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth about $50,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $56,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Starbucks Stock Up 0.4 %

SBUX opened at $112.20 on Friday. The stock has a market cap of $127.45 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.62. The business has a 50 day moving average of $96.93 and a 200-day moving average of $94.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s dividend payout ratio is currently 78.71%.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.