Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 21.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,681 shares of the coffee company’s stock after purchasing an additional 2,372 shares during the period. Citizens Financial Group Inc. RI’s holdings in Starbucks were worth $1,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC raised its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in Starbucks in the 4th quarter valued at about $36,000. Financial Connections Group Inc. acquired a new stake in Starbucks in the 4th quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Starbucks in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets cut their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Barclays cut their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Jefferies Financial Group cut their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Finally, Citigroup cut their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.55.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’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 value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, 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 $651,738 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.5 %

Shares of SBUX stock opened at $88.25 on Friday. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The stock has a market capitalization of $99.92 billion, a PE ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. The firm has a 50 day moving average of $90.36 and a two-hundred day moving average of $94.28.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

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.