Newbridge Financial Services Group Inc. Purchases Shares of 3,884 Starbucks Co. (NASDAQ:SBUX)

Newbridge Financial Services Group Inc. acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,884 shares of the coffee company’s stock, valued at approximately $354,000.

Several other institutional investors have also recently made changes to their positions in the business. Financial Life Planners bought a new position in Starbucks in the 4th quarter worth approximately $25,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks during the third quarter worth $49,000. Friedenthal Financial purchased a new position in Starbucks during the third quarter valued at $50,000. Finally, Hager Investment Management Services LLC bought a new stake in Starbucks in the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Stock Up 0.4 %

Shares of NASDAQ:SBUX opened at $112.20 on Monday. The business’s 50 day moving average is $97.12 and its 200 day moving average is $94.70. The stock has a market cap of $127.45 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $112.62.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s payout ratio is presently 78.71%.

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.