Mitchell & Pahl Private Wealth LLC Purchases 1,214 Shares of Starbucks Co. (NASDAQ:SBUX)

Mitchell & Pahl Private Wealth LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% in the fourth quarter, HoldingsChannel reports. The fund owned 17,664 shares of the coffee company’s stock after purchasing an additional 1,214 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Starbucks were worth $1,612,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter valued at about $25,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks in the third quarter worth $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the third quarter valued at $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of Starbucks stock opened at $95.13 on Tuesday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.82 and a beta of 0.99. The business’s 50 day moving average price is $95.84 and its 200 day moving average price is $91.71.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SBUX shares. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction 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 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 can be accessed through this hyperlink. 1.98% of the stock is owned by 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.