Hickory Asset Management Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Hickory Asset Management Inc. bought a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,475 shares of the coffee company’s stock, valued at approximately $408,000.

A number of other large investors have also recently bought and sold shares of SBUX. Financial Life Planners bought a new position in Starbucks in the fourth quarter worth about $25,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. DT Investment Partners LLC raised its holdings 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 buying an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new stake in shares of Starbucks during the third quarter valued at approximately $50,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Starbucks Trading Down 0.4 %

SBUX stock opened at $112.55 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The company has a fifty day simple moving average of $98.03 and a 200 day simple moving average of $95.61. The firm has a market cap of $127.85 billion, a PE ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 quarter last year, the business posted $0.90 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 2.17%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.