Beacon Financial Group Has $3.46 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Beacon Financial Group reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 37,927 shares of the coffee company’s stock after selling 605 shares during the quarter. Beacon Financial Group’s holdings in Starbucks were worth $3,461,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. ORG Wealth Partners LLC bought a new position in Starbucks during the 3rd quarter worth $195,000. Grove Bank & Trust increased its stake in shares of Starbucks by 21.3% in the third quarter. Grove Bank & Trust now owns 1,401 shares of the coffee company’s stock valued at $137,000 after buying an additional 246 shares during the period. Cornell Pochily Investment Advisors Inc. raised its position in shares of Starbucks by 2.1% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 10,094 shares of the coffee company’s stock worth $984,000 after acquiring an additional 204 shares during the last quarter. Hayek Kallen Investment Management lifted its stake in shares of Starbucks by 3.5% in the third quarter. Hayek Kallen Investment Management now owns 13,001 shares of the coffee company’s stock worth $1,267,000 after acquiring an additional 441 shares during the period. Finally, Cedar Mountain Advisors LLC boosted its holdings in Starbucks by 10.0% in the third quarter. Cedar Mountain Advisors LLC now owns 3,220 shares of the coffee company’s stock valued at $314,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $111.03 on Wednesday. The stock has a market cap of $126.12 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62. The firm’s 50-day simple moving average is $97.32 and its 200 day simple moving average is $95.10.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.90 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is 78.71%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBUX. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BTIG Research lifted their target price 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. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s 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 transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.