Bar Harbor Wealth Management Has $2.91 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Bar Harbor Wealth Management grew its position in Starbucks Co. (NASDAQ:SBUX) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,892 shares of the coffee company’s stock after buying an additional 1,733 shares during the quarter. Bar Harbor Wealth Management’s holdings in Starbucks were worth $2,910,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Persium Advisors LLC purchased a new position in Starbucks during the 4th quarter valued at about $572,000. Abound Wealth Management grew its position in Starbucks by 25.2% during the fourth quarter. Abound Wealth Management now owns 775 shares of the coffee company’s stock valued at $71,000 after purchasing an additional 156 shares in the last quarter. Wedmont Private Capital increased its stake in Starbucks by 1.6% in the 4th quarter. Wedmont Private Capital now owns 13,512 shares of the coffee company’s stock valued at $1,246,000 after buying an additional 212 shares during the period. Fragasso Financial Advisors Inc lifted its position in Starbucks by 5.5% in the 4th quarter. Fragasso Financial Advisors Inc now owns 10,706 shares of the coffee company’s stock worth $977,000 after buying an additional 555 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in shares of Starbucks by 17.6% during the 4th quarter. Capital Investment Advisors LLC now owns 18,313 shares of the coffee company’s stock valued at $1,671,000 after buying an additional 2,744 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.4 %

Starbucks stock traded up $1.29 during trading hours on Monday, hitting $93.54. The stock had a trading volume of 5,493,522 shares, compared to its average volume of 6,649,096. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company has a market cap of $106.06 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The company has a 50-day moving average of $96.13 and a two-hundred day moving average of $91.13.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 issued 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 2.61%. Starbucks’s payout ratio is presently 73.72%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus boosted their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

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.