Deane Retirement Strategies Inc. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Deane Retirement Strategies Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 13,875.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,790 shares of the coffee company’s stock after buying an additional 28,584 shares during the quarter. Starbucks makes up about 1.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 22nd largest position. Deane Retirement Strategies Inc.’s holdings in Starbucks were worth $2,764,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBUX. Metis Global Partners LLC increased its position in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares during the last quarter. Motco lifted its holdings in shares of Starbucks by 1.1% in the third quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares in the last quarter. Anchor Investment Management LLC bought a new position in Starbucks during the fourth quarter valued at approximately $1,348,000. Finally, First Command Advisory Services Inc. purchased a new stake in Starbucks in the third quarter worth $524,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Stephens reissued an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets lowered their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, January 16th. Finally, Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $110.05.

Starbucks Trading Down 0.1 %

Shares of NASDAQ:SBUX traded down $0.07 on Thursday, hitting $91.43. 2,332,406 shares of the company were exchanged, compared to its average volume of 8,510,309. The firm has a market capitalization of $103.52 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48. The stock’s 50 day moving average price is $93.05 and its 200 day moving average price is $95.19.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, equities analysts predict that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,000 shares of company stock worth $375,665 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

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.