Persium Advisors LLC Takes $572,000 Position in Starbucks Co. (NASDAQ:SBUX)

Persium Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,264 shares of the coffee company’s stock, valued at approximately $572,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. FMR LLC grew its holdings in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBUX shares. Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. UBS Group lifted their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Up 1.4 %

SBUX stock traded up $1.29 during midday trading on Monday, reaching $93.54. The company had a trading volume of 5,493,522 shares, compared to its average volume of 6,649,096. The firm has a market capitalization of $106.06 billion, a PE ratio of 28.26, a P/E/G ratio of 2.86 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. The stock has a 50 day moving average price of $96.13 and a 200 day moving average price of $91.13.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Research analysts predict that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.