Atomi Financial Group Inc. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Atomi Financial Group Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 13.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,861 shares of the coffee company’s stock after buying an additional 1,741 shares during the period. Atomi Financial Group Inc.’s holdings in Starbucks were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Dakota Wealth Management raised its stake in Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. raised its position in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the period. Aljian Capital Management LLC boosted its holdings in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

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 value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBUX. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Barclays cut their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $97.98 on Wednesday. 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 $111.09 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.82 and a beta of 0.99. The business’s 50 day moving average price is $95.74 and its 200-day moving average price is $91.84.

Starbucks (NASDAQ:SBUX) last released its 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 business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.49%. Starbucks’s dividend payout ratio is currently 73.72%.

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.