Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,680 shares of the coffee company’s stock after purchasing an additional 2,242 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Starbucks were worth $3,712,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Dakota Wealth Management increased its stake in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. raised its stake in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC lifted its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC grew its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the period. 72.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on SBUX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday. Stifel Nicolaus upped their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup increased their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, BTIG Research increased their price objective 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.
Starbucks Trading Up 0.8 %
Starbucks stock opened at $98.81 on Monday. The firm’s fifty day moving average price is $95.66 and its two-hundred day moving average price is $92.39. The firm has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth 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 – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. On average, research analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.
Starbucks Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.
Insider Buying and Selling at Starbucks
In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.
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