OneAscent Financial Services LLC Invests $294,000 in Starbucks Co. (NASDAQ:SBUX)

OneAscent Financial Services LLC purchased 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 purchased 3,223 shares of the coffee company’s stock, valued at approximately $294,000.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $62,000. Arizona State Retirement System raised its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $265,000. Wernau Asset Management Inc. purchased a new position in shares of Starbucks during the fourth quarter worth $258,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Starbucks in the fourth quarter valued at $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $82.10 on Friday. The firm’s fifty day simple moving average is $105.32 and its 200-day simple moving average is $99.36. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00.

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 44.97%. During the same period last year, the firm earned $0.90 EPS. Analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.97%. Starbucks’s payout ratio is 78.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Company 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.