SP Asset Management LLC held Starbucks Co. in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). (NASDAQ:SBUX – Get Rating ) bought a new position. The fund purchased 70,339 shares of the coffee company’s stock, valued at approximately $6,978,000.
A number of other hedge funds have also added to or reduced their stakes in the company. My Personal CFO LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Piershale Financial Group Inc. purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Starbucks during the third quarter valued at approximately $27,000. Red Turtles LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $28,000. Finally, WJ Interests LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $34,000. 69.16 percent shares belong to institutional investors.
Analysts set new price targets
Several research firms recently issued reports on SBUX. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Saturday, April 1st. BMO Capital Markets upped their price target on shares of Starbucks from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Barclays upped their price target on shares of Starbucks from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Stifel Nicolaus upped their price target on shares of Starbucks from $93.00 to $117.00 and gave the stock a “hold” rating in a research note on Monday, January 30th. Finally, BTIG Research boosted their price target on shares of Starbucks from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 19th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average target price of $108.74, according to MarketBeat.com.
Insider buying and selling
In other Starbucks news, EVP Zabrina Jenkins sold 2,962 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $108.48, for a total value of $321,317.76. Following the transaction, the executive vice president now directly owns 38,258 shares in the company, valued at $4,150,227.84. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 736 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $105.50 for a total value of $77,648.00. Following the transaction, the chief financial officer now owns 56,028 shares in the company, valued at $5,910,954. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. Also, EVP Zabrina Jenkins sold 2,962 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $108.48, for a total transaction of $321,317.76. Following the completion of the transaction, the executive vice president now owns 38,258 shares in the company, valued at $4,150,227.84. Disclosures for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.
Starbucks stock up 0.4%
NASDAQ:SBUX opened at $107.47 on Friday. Starbucks Co. has a 52 week low of $68.39 and a 52 week high of $110.83. The company has a 50 day moving average price of $103.35 and its 200 day moving average price is $99.45. The stock has a market cap of $123.52 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 1.82 and a beta of 0.95.
Starbucks (NASDAQ:SBUX – Get Rating ) last released its earnings results on Thursday, February 2nd. The coffee company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Starbucks had a negative return on equity of 39.78% and a net margin of 10.09%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.78 billion. In the same quarter in the previous year, the business posted $0.72 EPS. Compared to the same period last year, the company’s revenue increased by 8.2 percent in this quarter. As a group, sell-side analysts expect that Starbucks Co. will post 3.41 earnings per share for the current year.
Starbucks has declared a dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be issued a $0.53 dividend. This represents a $2.12 annual dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 11th. Starbucks’s dividend payout ratio is currently 73.87%.
About Starbucks
(Get Rating)
Starbucks Corporation engages in the production, marketing and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The international segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America and the Caribbean.
Further reading
Want to see what other hedge funds are holding SBUX? Starbucks Co. ( NASDAQ:SBUX – Get Rating ) Visit HoldingsChannel.com to get the latest 13F filings and insider trades.
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