Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,985 shares of the coffee company’s stock after buying an additional 118 shares during the period. Red Door Wealth Management LLC’s holdings in Starbucks were worth $455,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Barclays reduced their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Up 0.3 %

Shares of NASDAQ SBUX opened at $97.99 on Friday. The business has a fifty day simple moving average of $95.68 and a 200-day simple moving average of $92.04. The company has a market cap of $111.10 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last released its 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. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

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