Golden State Wealth Management LLC Invests $831,000 in Starbucks Co. (NASDAQ:SBUX)

Golden State Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, HoldingsChannel reports. The fund purchased 9,102 shares of the coffee company’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 7,598,146 shares in the last quarter. FMR LLC grew its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks in the 3rd quarter worth $126,574,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

SBUX stock opened at $111.70 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.42. The firm has a market capitalization of $126.88 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.40 and a beta of 1.00. The business’s 50-day moving average is $96.73 and its two-hundred day moving average is $94.20.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 business earned $0.90 EPS. On average, analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.18%. Starbucks’s payout ratio is currently 78.71%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred 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 represents a 1.83 % decrease in their ownership of the stock. 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 corporate 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.