Crossmark Global Holdings Inc. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Crossmark Global Holdings Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 179,398 shares of the coffee company’s stock after purchasing an additional 764 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Starbucks were worth $16,370,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBUX. Riverview Trust Co increased its position in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank lifted its position in Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares during the period. Virtue Capital Management LLC boosted its stake in Starbucks by 1.7% in the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the last quarter. DT Investment Partners LLC raised its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. Finally, Childress Capital Advisors LLC grew its stake in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks 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 value 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 approximately $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 can be accessed through this hyperlink. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

NASDAQ:SBUX opened at $95.13 on Tuesday. The firm has a market cap of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99. The firm has a 50-day simple moving average of $95.84 and a two-hundred day simple moving average of $91.71. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week 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, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. 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 currently 73.72%.

Analysts Set New Price Targets

Several analysts recently issued reports on SBUX shares. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Barclays reduced 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. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, UBS Group upped their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three equities 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.