Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $3.71 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Starbucks Co. (NASDAQ:SBUX) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,680 shares of the coffee company’s stock after purchasing an additional 2,242 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Starbucks were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Stablepoint Partners LLC boosted its position in shares of Starbucks by 2.0% during the fourth quarter. Stablepoint Partners LLC now owns 30,003 shares of the coffee company’s stock worth $2,738,000 after buying an additional 576 shares during the period. MKT Advisors LLC lifted its stake in Starbucks by 10.4% in the 4th quarter. MKT Advisors LLC now owns 8,351 shares of the coffee company’s stock valued at $794,000 after acquiring an additional 789 shares in the last quarter. Avaii Wealth Management LLC acquired a new position in Starbucks during the 4th quarter worth approximately $280,000. Jamison Private Wealth Management Inc. grew its stake in shares of Starbucks by 4.9% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 10,301 shares of the coffee company’s stock worth $940,000 after acquiring an additional 485 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Starbucks by 2.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 18,617 shares of the coffee company’s stock valued at $1,699,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $98.81 on Monday. The business has a fifty day moving average price of $95.66 and a two-hundred day moving average price of $92.39. The stock has a market capitalization of $112.03 billion, a PE ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

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 paid 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 yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analyst Ratings Changes

SBUX has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. 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. Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

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.