Fidelis Capital Partners LLC Buys 2,462 Shares of Starbucks Co. (NASDAQ:SBUX)

Fidelis Capital Partners LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 35.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,365 shares of the coffee company’s stock after purchasing an additional 2,462 shares during the period. Fidelis Capital Partners LLC’s holdings in Starbucks were worth $899,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock worth $9,756,001,000 after purchasing an additional 387,632 shares during the last quarter. State Street Corp grew its stake in shares of Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock worth $4,594,235,000 after purchasing an additional 135,644 shares during the last quarter. Morgan Stanley grew its stake in shares of Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares during the last quarter. Northern Trust Corp lifted its holdings in Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares during the period. Finally, Norges Bank acquired a new position in Starbucks in the fourth quarter valued at $1,222,931,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. BTIG Research dropped their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Finally, Stifel Nicolaus dropped their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus target price of $107.43.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.73 on Friday, reaching $87.88. 2,694,724 shares of the company traded hands, compared to its average volume of 8,331,885. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The company has a 50 day moving average of $91.14 and a 200 day moving average of $94.42. The firm has a market capitalization of $99.50 billion, a PE ratio of 23.30, a PEG ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,250 shares of company stock valued at $653,183 in the last three months. Company insiders own 1.98% of the company’s stock.

Starbucks Company 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.