Optas LLC Increases Position in Starbucks Co. (NASDAQ:SBUX)

Optas LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,711 shares of the coffee company’s stock after acquiring an additional 105 shares during the quarter. Optas LLC’s holdings in Starbucks were worth $1,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of Starbucks in the fourth quarter worth $25,000. JB Capital LLC increased its position in shares of Starbucks by 3.6% in the 4th quarter. JB Capital LLC now owns 37,466 shares of the coffee company’s stock worth $3,419,000 after purchasing an additional 1,306 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $339,000. Chicago Capital LLC increased its position in shares of Starbucks by 29.1% in the 4th quarter. Chicago Capital LLC now owns 27,278 shares of the coffee company’s stock worth $2,489,000 after purchasing an additional 6,149 shares during the last quarter. Finally, FSM Wealth Advisors LLC increased its position in shares of Starbucks by 3.0% in the 4th quarter. FSM Wealth Advisors LLC now owns 4,663 shares of the coffee company’s stock worth $440,000 after purchasing an additional 137 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three investment 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’s stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.4 %

Shares of NASDAQ SBUX opened at $108.16 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34. The company has a market capitalization of $122.86 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 3.40 and a beta of 0.99. The firm has a 50-day moving average of $96.19 and a two-hundred day moving average of $93.61.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.26%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.