Range Financial Group LLC Has $561,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Range Financial Group LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 37.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,143 shares of the coffee company’s stock after buying an additional 1,680 shares during the quarter. Range Financial Group LLC’s holdings in Starbucks were worth $561,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. FMR LLC raised its position 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 buying an additional 7,015,375 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in Starbucks during the second quarter worth about $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake 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 valued at $248,153,000 after acquiring an additional 2,329,431 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada began coverage on shares of Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.29 during midday trading on Tuesday, hitting $92.84. The stock had a trading volume of 6,635,182 shares, compared to its average volume of 7,173,007. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market cap of $105.26 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The company’s 50-day simple moving average is $96.55 and its 200 day simple moving average is $90.77.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. Equities analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s 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.