Twelve Points Wealth Management LLC Has $1.06 Million Position in Starbucks Co. (NASDAQ:SBUX)

Twelve Points Wealth Management LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 63.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,620 shares of the coffee company’s stock after buying an additional 4,514 shares during the period. Twelve Points Wealth Management LLC’s holdings in Starbucks were worth $1,060,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. DT Investment Partners LLC increased its holdings in Starbucks by 39.4% in the third 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 during the last quarter. FSA Wealth Management LLC acquired a new position in Starbucks in the third quarter valued at about $49,000. Friedenthal Financial bought a new position in Starbucks during the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Starbucks during the 3rd quarter worth about $71,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBUX shares. Wedbush reduced their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $104.08.

Starbucks Trading Up 0.4 %

NASDAQ SBUX opened at $100.46 on Wednesday. The firm has a market capitalization of $113.90 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The firm’s fifty day moving average price is $95.65 and its two-hundred day moving average price is $92.71. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the previous year, the business posted $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.08 EPS 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 issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is 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.