Highland Capital Management LLC Has $6.87 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Highland Capital Management LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,520 shares of the coffee company’s stock after buying an additional 546 shares during the period. Highland Capital Management LLC’s holdings in Starbucks were worth $6,867,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SBUX. Freedom Wealth Alliance LLC bought a new stake in Starbucks during the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in Starbucks in the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 1st quarter valued at $37,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. HSBC initiated coverage on Starbucks in a research report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Morgan Stanley upgraded Starbucks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $112.00 to $120.00 in a research report on Tuesday, January 16th. Stephens restated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. BTIG Research reduced their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, TD Cowen restated a “market perform” rating and issued a $102.00 price target on shares of Starbucks in a research report on Tuesday, March 19th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.05.

Insiders Place Their Bets

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,000 shares of company stock valued at $375,665 over the last 90 days. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

NASDAQ:SBUX opened at $91.50 on Thursday. The stock’s 50-day simple moving average is $93.05 and its 200 day simple moving average is $95.19. The company has a market cap of $103.60 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.44 and a beta of 0.98. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm posted $0.75 EPS. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.