Foundations Investment Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,091 shares of the coffee company’s stock, valued at approximately $221,000.
A number of other large investors also recently modified their holdings of SBUX. Brookstone Capital Management grew its holdings in shares of Starbucks by 5.6% during the 4th quarter. Brookstone Capital Management now owns 12,080 shares of the coffee company’s stock worth $1,292,000 after purchasing an additional 639 shares in the last quarter. Perkins Coie Trust Co lifted its position in Starbucks by 2.2% during the fourth quarter. Perkins Coie Trust Co now owns 44,223 shares of the coffee company’s stock worth $4,731,000 after purchasing an additional 952 shares during the period. City Holding Co. grew its stake in Starbucks by 15.1% during the fourth quarter. City Holding Co. now owns 1,521 shares of the coffee company’s stock worth $163,000 after buying an additional 200 shares in the last quarter. HBW Advisory Services LLC increased its holdings in Starbucks by 4.5% in the 4th quarter. HBW Advisory Services LLC now owns 39,278 shares of the coffee company’s stock valued at $4,202,000 after buying an additional 1,676 shares during the period. Finally, Bainco International Investors raised its position in shares of Starbucks by 3.5% in the 4th quarter. Bainco International Investors now owns 63,525 shares of the coffee company’s stock valued at $6,796,000 after buying an additional 2,159 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Starbucks from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, December 10th. JPMorgan Chase & Co. boosted their price target on Starbucks from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Stephens raised their price objective on Starbucks from $86.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, December 10th. They noted that the move was a valuation call. Piper Sandler lifted their target price on Starbucks from $83.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, December 7th. Finally, Jefferies Financial Group increased their target price on shares of Starbucks from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and an average target price of $96.62.
Shares of SBUX opened at $102.89 on Thursday. The stock’s 50-day moving average price is $102.77 and its two-hundred day moving average price is $88.46. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $107.75. The company has a market capitalization of $120.28 billion, a PE ratio of 92.69, a PEG ratio of 2.26 and a beta of 0.81.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.20. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period last year, the company earned $0.70 earnings per share. The firm’s revenue was down 8.1% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 0.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 5th. Stockholders of record on Thursday, February 18th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.75%. Starbucks’s dividend payout ratio (DPR) is currently 63.60%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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