Patriot Financial Group Insurance Agency LLC Increases Position in Starbucks Co. (NASDAQ:SBUX)

Patriot Financial Group Insurance Agency LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,118 shares of the coffee company’s stock after purchasing an additional 600 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Starbucks were worth $1,745,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $1,383,000. Silver Lake Advisory LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $232,000. Sunbelt Securities Inc. boosted its holdings in Starbucks by 105.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 26,054 shares of the coffee company’s stock worth $2,028,000 after acquiring an additional 13,393 shares during the period. Invst LLC raised its stake in shares of Starbucks by 5.7% during the second quarter. Invst LLC now owns 20,372 shares of the coffee company’s stock valued at $1,571,000 after purchasing an additional 1,092 shares during the period. Finally, Quarry LP boosted its stake in shares of Starbucks by 127.7% in the second quarter. Quarry LP now owns 3,145 shares of the coffee company’s stock valued at $245,000 after purchasing an additional 1,764 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $104.08.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.74 on Tuesday. The stock has a market capitalization of $113.08 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock has a 50 day moving average price of $95.66 and a 200 day moving average price of $92.53.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company 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.