Deane Retirement Strategies Inc. Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Deane Retirement Strategies Inc. increased its stake in Starbucks Co. (NASDAQ:SBUX) by 13,875.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,790 shares of the coffee company’s stock after purchasing an additional 28,584 shares during the quarter. Starbucks accounts for approximately 1.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 22nd largest position. Deane Retirement Strategies Inc.’s holdings in Starbucks were worth $2,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks in the second quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the first quarter worth $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,000 shares of company stock valued at $375,665 over the last three months. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX traded down $0.07 during trading hours on Thursday, reaching $91.43. 2,332,406 shares of the company traded hands, compared to its average volume of 8,510,309. The stock has a market cap of $103.52 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The stock’s fifty day moving average is $93.05 and its 200 day moving average is $95.19. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48.

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

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.49%. Starbucks’s payout ratio is presently 60.96%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Morgan Stanley raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $112.00 to $120.00 in a research note on Tuesday, January 16th. HSBC initiated coverage on Starbucks in a report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price objective for the company. Citigroup reduced their price target on Starbucks from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Robert W. Baird reduced their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, Barclays cut their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.05.

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.