Focus Financial Network Inc. Has $872,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Focus Financial Network Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,554 shares of the coffee company’s stock after selling 1,944 shares during the period. Focus Financial Network Inc.’s holdings in Starbucks were worth $872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. FMR LLC increased its position in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks during the 3rd quarter worth about $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, 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 report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Up 1.8 %

Shares of SBUX opened at $113.04 on Thursday. The company has a 50-day moving average price of $97.51 and a two-hundred day moving average price of $95.37. The stock has a market cap of $128.40 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.19.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

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 paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is presently 78.71%.

Insider Transactions at Starbucks

In other Starbucks 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 value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Starbucks 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.