AdvisorNet Financial Inc decreased its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,063 shares of the coffee company’s stock after selling 321 shares during the period. AdvisorNet Financial Inc’s holdings in Starbucks were worth $280,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Starbucks by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock valued at $206,279,000 after acquiring an additional 207,156 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Starbucks by 97.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 27,330 shares of the coffee company’s stock valued at $2,128,000 after purchasing an additional 13,495 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Starbucks by 1.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 11,347 shares of the coffee company’s stock valued at $883,000 after purchasing an additional 204 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Starbucks by 4.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 41,194 shares of the coffee company’s stock worth $3,207,000 after purchasing an additional 1,675 shares in the last quarter. Finally, Waterloo Capital L.P. increased its position in Starbucks by 13.7% during the second quarter. Waterloo Capital L.P. now owns 2,704 shares of the coffee company’s stock worth $210,000 after buying an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Starbucks Trading Up 1.5 %
SBUX stock opened at $94.43 on Friday. The firm has a market cap of $107.06 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business’s 50 day moving average is $95.92 and its 200-day moving average is $91.35.
Starbucks Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.
Insider Activity
In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several analysts have recently issued reports on SBUX shares. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. 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. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, UBS Group lifted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.
View Our Latest Analysis on SBUX
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.
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