Brighton Jones LLC Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Brighton Jones LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 86.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,722 shares of the coffee company’s stock after acquiring an additional 81,952 shares during the period. Brighton Jones LLC’s holdings in Starbucks were worth $16,126,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co grew its stake in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares in the last quarter. Essex Savings Bank grew its position in shares of Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares in the last quarter. Virtue Capital Management LLC increased its stake in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in Starbucks by 2.4% in the fourth quarter. Red Door Wealth Management LLC now owns 4,985 shares of the coffee company’s stock valued at $455,000 after acquiring an additional 118 shares in the last quarter. Finally, DT Investment Partners LLC boosted 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 acquiring an additional 121 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SBUX shares. Wells Fargo & Company upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.3 %

NASDAQ:SBUX opened at $97.99 on Friday. The business’s fifty day moving average price is $95.68 and its 200 day moving average price is $92.04. The firm has a market capitalization of $111.10 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio is 73.72%.

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.