Smith Salley Wealth Management Buys 1,112 Shares of Starbucks Co. (NASDAQ:SBUX)

Smith Salley Wealth Management raised its stake in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,660 shares of the coffee company’s stock after buying an additional 1,112 shares during the quarter. Smith Salley Wealth Management’s holdings in Starbucks were worth $3,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Riverview Trust Co boosted its stake in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares during the last quarter. Essex Savings Bank raised its holdings in Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after purchasing an additional 112 shares during the period. Virtue Capital Management LLC boosted its position in shares of Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after purchasing an additional 115 shares in the last quarter. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. Finally, Childress Capital Advisors LLC increased its position in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.7 %

Shares of NASDAQ:SBUX opened at $95.13 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The company’s 50 day moving average price is $95.84 and its two-hundred day moving average price is $91.50. The firm has a market cap of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given 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 2.56%. Starbucks’s dividend payout ratio is 73.72%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This 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 at the SEC website. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SBUX shares. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Wedbush decreased their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target for the company. Finally, UBS Group upped their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.