Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lifted by Palmer Knight Co

Palmer Knight Co increased its position in Starbucks Co. (NASDAQ:SBUX) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,860 shares of the coffee company’s stock after acquiring an additional 1,010 shares during the period. Starbucks makes up 3.1% of Palmer Knight Co’s portfolio, making the stock its 18th biggest position. Palmer Knight Co’s holdings in Starbucks were worth $7,013,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd 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 buying an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter valued at about $49,000. Friedenthal Financial acquired a new position in Starbucks during the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP acquired a new position in Starbucks during the 3rd quarter valued at about $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 8.1 %

SBUX stock opened at $108.58 on Thursday. The company has a market capitalization of $123.11 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.08. The firm has a 50 day moving average of $95.70 and a two-hundred day moving average of $92.89.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 prior year, the business earned $0.90 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Bank of America reduced 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. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.52.

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.