Blossom Wealth Management Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Blossom Wealth Management increased its stake in Starbucks Co. (NASDAQ:SBUX) by 4.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,969 shares of the coffee company’s stock after buying an additional 307 shares during the period. Starbucks comprises 1.2% of Blossom Wealth Management’s investment portfolio, making the stock its 24th biggest holding. Blossom Wealth Management’s holdings in Starbucks were worth $636,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC raised its stake in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in Starbucks during 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 purchased a new position in Starbucks in the 3rd quarter valued at approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SBUX. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. 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. Finally, Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $107.68 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $110.34. The company has a market capitalization of $122.31 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 3.47 and a beta of 0.99. The company has a 50 day simple moving average of $96.19 and a two-hundred day simple moving average of $93.36.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.30% and a net margin of 9.73%. During the same period last year, the business posted $0.90 earnings per share. On average, analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks 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.