Oregon Pacific Wealth Management LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Oregon Pacific Wealth Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,720 shares of the coffee company’s stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial acquired a new position in Starbucks in the 3rd quarter valued at about $50,000. Capital Performance Advisors LLP acquired a new stake in shares of Starbucks during the 3rd quarter worth about $71,000. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Starbucks by 61.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company’s stock worth $71,000 after purchasing an additional 275 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

NASDAQ:SBUX opened at $107.68 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $110.34. The business has a 50 day simple moving average of $96.19 and a 200 day simple moving average of $93.48. The firm has a market capitalization of $122.31 billion, a P/E ratio of 34.74, a P/E/G ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business posted $0.90 earnings per share. Research analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.