Nkcfo LLC Buys 9,400 Shares of Starbucks Co. (NASDAQ:SBUX)

Nkcfo LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,350 shares of the coffee company’s stock after purchasing an additional 9,400 shares during the period. Starbucks makes up 1.5% of Nkcfo LLC’s holdings, making the stock its 15th biggest holding. Nkcfo LLC’s holdings in Starbucks were worth $3,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter valued at $25,000. Collier Financial acquired a new stake in Starbucks in the fourth quarter valued at about $27,000. DT Investment Partners LLC grew its position in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the 3rd quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new position in Starbucks in the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $112.55 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The stock has a market capitalization of $127.85 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The company’s 50-day moving average is $98.28 and its 200-day moving average is $95.87.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is 78.71%.

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.