Asset Planning Inc Buys Shares of 15,967 Starbucks Co. (NASDAQ:SBUX)

Asset Planning Inc bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,967 shares of the coffee company’s stock, valued at approximately $1,457,000. Starbucks makes up 1.1% of Asset Planning Inc’s portfolio, making the stock its 20th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Starbucks during the 4th quarter valued at $25,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter valued at $27,000. DT Investment Partners LLC increased its position 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 valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter valued at $49,000. Finally, Friedenthal Financial acquired a new position in shares of Starbucks during the 3rd quarter valued at $50,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $113.00 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.40. The business has a 50-day moving average of $97.76 and a two-hundred day moving average of $95.49. The stock has a market capitalization of $128.36 billion, a P/E ratio of 36.45, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.