Copley Financial Group Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Copley Financial Group Inc. bought a new position in Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,577 shares of the coffee company’s stock, valued at approximately $739,000. Starbucks makes up approximately 0.7% of Copley Financial Group Inc.’s investment portfolio, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Silver Lake Advisory LLC purchased a new position in shares of Starbucks in the second quarter valued at about $232,000. Blue Trust Inc. lifted its position in shares of Starbucks by 39.9% in the second quarter. Blue Trust Inc. now owns 10,140 shares of the coffee company’s stock valued at $789,000 after acquiring an additional 2,894 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Starbucks by 27.2% in the second quarter. Brookstone Capital Management now owns 28,426 shares of the coffee company’s stock valued at $2,135,000 after acquiring an additional 6,081 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Starbucks by 11.1% in the second quarter. Gradient Investments LLC now owns 317,027 shares of the coffee company’s stock valued at $24,681,000 after acquiring an additional 31,705 shares in the last quarter. Finally, Everpar Advisors LLC lifted its position in shares of Starbucks by 11.7% in the second quarter. Everpar Advisors LLC now owns 4,520 shares of the coffee company’s stock valued at $352,000 after acquiring an additional 472 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction 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. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Down 0.3 %

Shares of Starbucks stock traded down $0.26 on Friday, reaching $97.56. 609,190 shares of the stock were exchanged, compared to its average volume of 10,783,300. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business has a fifty day moving average price of $98.22 and a two-hundred day moving average price of $89.31. The firm has a market capitalization of $110.61 billion, a PE ratio of 29.55, a PEG ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

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.