Tidal Investments LLC Buys 20,544 Shares of Starbucks Co. (NASDAQ:SBUX)

Tidal Investments LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 61.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,076 shares of the coffee company’s stock after buying an additional 20,544 shares during the quarter. Tidal Investments LLC’s holdings in Starbucks were worth $5,272,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Starbucks during the second quarter worth $31,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Finally, Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Trading Down 0.4 %

Shares of Starbucks stock opened at $97.42 on Friday. The company has a market capitalization of $110.45 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The stock has a fifty day simple moving average of $98.24 and a 200 day simple moving average of $89.44. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 3.11 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 given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.