Mediolanum International Funds Ltd Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Mediolanum International Funds Ltd lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 330.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 120,352 shares of the coffee company’s stock after acquiring an additional 92,375 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Starbucks were worth $10,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC boosted its holdings in 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 acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks in the third quarter valued at approximately $71,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, 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 filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $107.68 on Friday. The firm’s fifty day simple moving average is $96.08 and its 200-day simple moving average is $93.11. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.34. The stock has a market capitalization of $122.31 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 3.47 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period last year, the firm earned $0.90 EPS. Analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 2.27%. Starbucks’s payout ratio is 78.71%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SBUX. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.