Strategic Financial Concepts LLC Buys New Stake in Starbucks Co. (NASDAQ:SBUX)

Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 61,131 shares of the coffee company’s stock, valued at approximately $62,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Starbucks in the fourth quarter worth about $25,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in Starbucks in the 3rd quarter worth $50,000. Finally, Hager Investment Management Services LLC purchased a new stake in Starbucks in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.8 %

NASDAQ:SBUX opened at $113.04 on Thursday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.19. The stock’s fifty day moving average is $97.51 and its two-hundred day moving average is $95.37. The company has a market capitalization of $128.40 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the company posted $0.90 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business 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 $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 currently 78.71%.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate 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.