Alliance Wealth Advisors LLC UT Acquires 1,946 Shares of Starbucks Co. (NASDAQ:SBUX)

Alliance Wealth Advisors LLC UT lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,391 shares of the coffee company’s stock after purchasing an additional 1,946 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Starbucks were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Optas LLC increased its holdings in shares of Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares in the last quarter. Financial Life Planners bought a new position in shares of Starbucks during the 4th quarter valued at $25,000. JB Capital LLC increased its position in shares of Starbucks by 3.6% during the 4th quarter. JB Capital LLC now owns 37,466 shares of the coffee company’s stock valued at $3,419,000 after purchasing an additional 1,306 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new position in Starbucks in the fourth quarter worth approximately $339,000. Finally, Chicago Capital LLC lifted its position in Starbucks by 29.1% during the fourth quarter. Chicago Capital LLC now owns 27,278 shares of the coffee company’s stock valued at $2,489,000 after purchasing an additional 6,149 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.4 %

Shares of Starbucks stock opened at $108.16 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.34. The stock’s fifty day moving average price is $96.19 and its 200-day moving average price is $93.61. The firm has a market cap of $122.86 billion, a P/E ratio of 34.89, a P/E/G ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.