2,714 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, HoldingsChannel.com reports. The firm bought 2,714 shares of the coffee company’s stock, valued at approximately $250,000.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter worth about $25,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter worth approximately $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in Starbucks during the third quarter valued at approximately $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Performance

NASDAQ SBUX opened at $93.08 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock has a market cap of $105.53 billion, a PE ratio of 28.12, a PEG ratio of 2.86 and a beta of 0.99. The firm has a 50-day simple moving average of $95.98 and a 200 day simple moving average of $91.34.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting 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 negative return on equity of 46.39% and a net margin of 10.40%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 EPS. Research analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.