Allworth Financial LP Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Allworth Financial LP raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 181,196 shares of the coffee company’s stock after buying an additional 2,223 shares during the quarter. Allworth Financial LP’s holdings in Starbucks were worth $17,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. Cornerstone Wealth Management LLC raised its stake in Starbucks by 4.7% during the third quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock valued at $553,000 after buying an additional 252 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Starbucks during the 3rd quarter valued at $230,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Starbucks by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock valued at $12,405,000 after acquiring an additional 5,534 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Starbucks in the third quarter valued at $226,000. Finally, Claro Advisors LLC lifted its holdings in shares of Starbucks by 35.8% in the third quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock valued at $1,653,000 after purchasing an additional 4,474 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Trading Down 0.4 %

NASDAQ:SBUX opened at $112.55 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47. The stock has a 50-day moving average price of $98.28 and a 200 day moving average price of $95.87. The stock has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a P/E/G 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 (EPS) for the quarter, topping 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 in the previous year, the company earned $0.90 earnings per share. On average, research analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company 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.