Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 45.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,522 shares of the coffee company’s stock after purchasing an additional 1,420 shares during the period. Monterey Private Wealth Inc.’s holdings in Starbucks were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the 2nd quarter worth $25,000. DT Investment Partners LLC increased its position 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 purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter worth about $49,000. Friedenthal Financial acquired a new position in Starbucks in the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The shares were 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 in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.7 %

Shares of NASDAQ:SBUX opened at $95.13 on Tuesday. The company has a market cap of $107.86 billion, a PE ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99. The company’s 50 day moving average is $95.74 and its two-hundred day moving average is $91.84. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. As a group, equities research analysts expect that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.