Whitaker Myers Wealth Managers LTD. Takes $322,000 Position in Starbucks Co. (NASDAQ:SBUX)

Whitaker Myers Wealth Managers LTD. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,531 shares of the coffee company’s stock, valued at approximately $322,000.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its holdings in shares of Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after purchasing an additional 437,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares in the last quarter. FMR LLC lifted its stake in Starbucks by 55.0% in 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 lifted its stake 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 in 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 valued at $1,146,744,000 after acquiring an additional 327,734 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $95.13 on Friday. The stock has a fifty day moving average price of $95.84 and a 200-day moving average price of $91.50. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. Research analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.56%. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Read Our Latest Stock Report on SBUX

Starbucks Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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