Starbucks Co. (NASDAQ:SBUX) Stake Increased by Financial Management Professionals Inc.

Financial Management Professionals Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 529.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,869 shares of the coffee company’s stock after acquiring an additional 4,096 shares during the quarter. Financial Management Professionals Inc.’s holdings in Starbucks were worth $444,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co lifted its stake in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares during the period. Essex Savings Bank lifted its position in shares of Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares during the period. Virtue Capital Management LLC boosted its stake in Starbucks by 1.7% in the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after buying an additional 115 shares in the last quarter. DT Investment Partners LLC grew its position in Starbucks by 39.4% in the third 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. Finally, Childress Capital Advisors LLC raised its stake in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after acquiring an additional 126 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Stock Up 0.7 %

Shares of NASDAQ SBUX opened at $95.13 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. The company’s fifty day moving average is $95.84 and its 200-day moving average is $91.50.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.