Kestra Private Wealth Services LLC Purchases 1,674 Shares of Starbucks Co. (NASDAQ:SBUX)

Kestra Private Wealth Services LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,589 shares of the coffee company’s stock after purchasing an additional 1,674 shares during the period. Kestra Private Wealth Services LLC’s holdings in Starbucks were worth $7,810,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in shares of Starbucks during the fourth quarter valued at $25,000. DT Investment Partners LLC lifted its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter worth approximately $50,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $56,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SBUX shares. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Stock Up 0.4 %

Shares of NASDAQ SBUX opened at $112.20 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $112.62. The business’s 50 day moving average price is $97.12 and its 200 day moving average price is $94.70. The firm has a market cap of $127.45 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.90 EPS. As a group, research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

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

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.