Signet Financial Management LLC Buys New Position in Starbucks Co. (NASDAQ:SBUX)

Signet Financial Management LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,248 shares of the coffee company’s stock, valued at approximately $661,000.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC boosted its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBUX shares. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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 the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.4 %

Shares of Starbucks stock opened at $93.51 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The stock has a market capitalization of $106.02 billion, a P/E ratio of 28.25, a PEG ratio of 2.86 and a beta of 0.99. The stock has a 50 day moving average price of $96.06 and a two-hundred day moving average price of $91.24.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm 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 business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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 is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.61%. Starbucks’s payout ratio is 73.72%.

Starbucks Company 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.