Kennebec Savings Bank Raises Position in Starbucks Co. (NASDAQ:SBUX)

Kennebec Savings Bank grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,003 shares of the coffee company’s stock after acquiring an additional 192 shares during the period. Kennebec Savings Bank’s holdings in Starbucks were worth $561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at approximately $25,000. DT Investment Partners LLC increased its holdings in Starbucks by 39.4% in 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 in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial bought a new position in Starbucks during the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.52.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on 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 directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.4 %

Shares of NASDAQ:SBUX opened at $109.00 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.34. The company has a market cap of $123.81 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.47 and a beta of 0.99. The company has a 50-day moving average price of $95.90 and a 200 day moving average price of $93.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.24%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.