Eads & Heald Wealth Management Buys 2,564 Shares of Starbucks Co. (NASDAQ:SBUX)

Eads & Heald Wealth Management raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,246 shares of the coffee company’s stock after acquiring an additional 2,564 shares during the quarter. Eads & Heald Wealth Management’s holdings in Starbucks were worth $1,665,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. AE Wealth Management LLC boosted its position in Starbucks by 42.1% in the 2nd quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after buying an additional 6,841 shares during the last quarter. DRW Securities LLC lifted its position in Starbucks by 20.6% during the 2nd quarter. DRW Securities LLC now owns 6,609 shares of the coffee company’s stock valued at $513,000 after purchasing an additional 1,130 shares during the period. Public Sector Pension Investment Board grew its position in shares of Starbucks by 73.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after buying an additional 18,420 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in shares of Starbucks during the second quarter worth approximately $328,000. Finally, Resources Management Corp CT ADV lifted its holdings in Starbucks by 15.8% in the second quarter. Resources Management Corp CT ADV now owns 41,198 shares of the coffee company’s stock valued at $3,207,000 after buying an additional 5,617 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SBUX shares. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Barclays cut their price target 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. Royal Bank of Canada started coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.98 on Wednesday. The firm has a market cap of $111.09 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 2.82 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm’s 50-day simple moving average is $95.74 and its 200 day simple moving average is $91.84.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.06 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by company insiders.

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.