Starbucks Co. (NASDAQ:SBUX) Shares Bought by Bar Harbor Wealth Management

Bar Harbor Wealth Management boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 29,657 shares of the coffee company’s stock after purchasing an additional 3,565 shares during the quarter. Bar Harbor Wealth Management’s holdings in Starbucks were worth $2,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SBUX. Willow Creek Wealth Management Inc. lifted its position in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its position in Starbucks by 0.7% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after acquiring an additional 100 shares during the last quarter. Valley Brook Capital Group Inc. lifted its position in Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after acquiring an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after acquiring an additional 100 shares during the last quarter. Finally, Herold Advisors Inc. lifted its position in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after acquiring an additional 100 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $90.36 on Wednesday. Starbucks Co. has a fifty-two week low of $89.21 and a fifty-two week high of $115.48. The company has a market capitalization of $102.31 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.44 and a beta of 0.98. The stock has a fifty day moving average of $93.09 and a 200-day moving average of $95.23.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $375,665 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. BTIG Research cut their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Morgan Stanley raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $112.00 to $120.00 in a report on Tuesday, January 16th. BMO Capital Markets cut their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Finally, StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $110.05.

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.