Patriot Financial Group Insurance Agency LLC Has $1.75 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Patriot Financial Group Insurance Agency LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,118 shares of the coffee company’s stock after buying an additional 600 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Starbucks were worth $1,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC boosted its holdings in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. grew its holdings in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after acquiring an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the third quarter valued at approximately $126,574,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were 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 in the company, valued at $7,975,542.96. The trade was a 1.83 % 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.

Starbucks Trading Down 0.3 %

NASDAQ:SBUX opened at $99.74 on Tuesday. The firm’s fifty day simple moving average is $95.66 and its 200 day simple moving average is $92.53. The firm has a market capitalization of $113.08 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. UBS Group increased their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush lowered their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays cut their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $104.08.

Starbucks Company 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.