Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Financial Management Professionals Inc.

Financial Management Professionals Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 529.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,869 shares of the coffee company’s stock after purchasing an additional 4,096 shares during the quarter. Financial Management Professionals Inc.’s holdings in Starbucks were worth $444,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBUX. Wellington Management Group LLP raised its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC raised its position in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Marshall Wace LLP lifted its stake in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. 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. Finally, Morgan Stanley upped their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Price Performance

Starbucks stock opened at $95.13 on Friday. The firm’s 50-day moving average is $95.84 and its two-hundred day moving average is $91.50. The stock has a market capitalization of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

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.