Signet Financial Management LLC Invests $661,000 in Starbucks Co. (NASDAQ:SBUX)

Signet Financial Management LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,248 shares of the coffee company’s stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Wellington Management Group LLP grew its position in Starbucks by 100.6% during the third 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 period. FMR LLC lifted its stake in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Starbucks in the third quarter valued at approximately $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada began coverage on Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Trading Up 1.4 %

Shares of NASDAQ SBUX opened at $93.51 on Tuesday. The company has a market cap of $106.02 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The stock’s 50 day simple moving average is $96.06 and its 200 day simple moving average is $91.24. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 2.61%. Starbucks’s dividend payout ratio is presently 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.