Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,925 shares of the coffee company’s stock after purchasing an additional 464 shares during the period. Sound Income Strategies LLC’s holdings in Starbucks were worth $906,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth approximately $25,000. DT Investment Partners LLC boosted its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the 3rd quarter worth $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the third quarter valued at $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SBUX shares. Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Barclays lowered their price objective 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. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Up 0.8 %

Shares of SBUX stock opened at $98.81 on Friday. The business’s 50 day moving average is $95.65 and its two-hundred day moving average is $92.08. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market cap of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.