Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Park Place Capital Corp

Park Place Capital Corp lifted its position in Starbucks Co. (NASDAQ:SBUX) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,548 shares of the coffee company’s stock after purchasing an additional 1,257 shares during the quarter. Park Place Capital Corp’s holdings in Starbucks were worth $1,054,000 at the end of the most recent quarter.

A number of other large 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 $25,000. DT Investment Partners LLC lifted its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter valued at approximately $49,000. Friedenthal Financial bought a new position in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Starbucks during the third quarter valued at approximately $71,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Starbucks Trading Down 0.2 %

SBUX opened at $97.81 on Wednesday. The company has a market cap of $110.90 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.82 and a beta of 0.99. The company’s 50 day moving average is $95.72 and its 200 day moving average is $92.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. As a group, analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.