Capital Investment Advisors LLC Buys 2,744 Shares of Starbucks Co. (NASDAQ:SBUX)

Capital Investment Advisors LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,313 shares of the coffee company’s stock after purchasing an additional 2,744 shares during the quarter. Capital Investment Advisors LLC’s holdings in Starbucks were worth $1,671,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Dakota Wealth Management increased its holdings in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. raised its position in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC lifted its stake in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC boosted its holdings in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its stake in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $93.51 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The business’s 50 day simple moving average is $96.06 and its two-hundred day simple moving average is $91.24. The firm has a market cap of $106.02 billion, a P/E ratio of 28.25, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, equities analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. Starbucks’s dividend payout ratio is presently 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.