Mitchell & Pahl Private Wealth LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Mitchell & Pahl Private Wealth LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,664 shares of the coffee company’s stock after acquiring an additional 1,214 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Starbucks were worth $1,612,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bridges Investment Management Inc. increased its holdings in Starbucks by 21.0% during the second quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after buying an additional 747 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Starbucks by 42.1% during the 2nd quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after acquiring an additional 6,841 shares during the period. Pacer Advisors Inc. increased its stake in shares of Starbucks by 0.9% in the 2nd quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock worth $10,442,000 after purchasing an additional 1,182 shares in the last quarter. Holderness Investments Co. raised its holdings in Starbucks by 8.1% in the 2nd quarter. Holderness Investments Co. now owns 3,748 shares of the coffee company’s stock worth $292,000 after purchasing an additional 280 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its position in Starbucks by 8,935.9% during the second quarter. Frank Rimerman Advisors LLC now owns 14,096 shares of the coffee company’s stock valued at $1,097,000 after purchasing an additional 13,940 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SBUX. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. 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. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Trading Up 0.7 %

NASDAQ SBUX opened at $95.13 on Tuesday. 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 200-day moving average price is $91.71. The stock has a market cap of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.82 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is 73.72%.

Starbucks Profile

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.