Cove Private Wealth LLC Acquires Shares of 2,902 Starbucks Co. (NASDAQ:SBUX)

Cove Private Wealth LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,902 shares of the coffee company’s stock, valued at approximately $265,000.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter valued at about $25,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% during 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 in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in Starbucks during the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP bought a new stake in Starbucks during the 3rd quarter valued at $71,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Up 0.7 %

NASDAQ:SBUX opened at $95.13 on Monday. The company has a market capitalization of $107.86 billion, a P/E ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm has a fifty day simple moving average of $95.84 and a 200-day simple moving average of $91.60.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during 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%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Barclays dropped their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Three equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.