Hager Investment Management Services LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Hager Investment Management Services LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, Holdings Channel.com reports. The firm purchased 610 shares of the coffee company’s stock, valued at approximately $56,000.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. State Street Corp grew its holdings in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC boosted its position in Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC grew its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.5 %

Starbucks stock opened at $112.25 on Thursday. The firm has a market capitalization of $127.50 billion, a P/E ratio of 36.21, a P/E/G ratio of 3.40 and a beta of 1.00. The stock’s fifty day simple moving average is $96.51 and its 200-day simple moving average is $94.07. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.42.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Ratings Changes

Several equities research analysts recently commented on SBUX shares. Citigroup increased their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, six 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% 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.