Walker Asset Management LLC Has $2.08 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Walker Asset Management LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,779 shares of the coffee company’s stock after buying an additional 160 shares during the period. Starbucks accounts for 1.3% of Walker Asset Management LLC’s portfolio, making the stock its 11th largest holding. Walker Asset Management LLC’s holdings in Starbucks were worth $2,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the second quarter worth about $25,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks in the 3rd quarter worth approximately $49,000. Friedenthal Financial bought a new stake in Starbucks during the third quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new position in Starbucks during the third quarter valued at approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.7 %

Shares of SBUX opened at $95.13 on Friday. The stock has a market cap of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock has a 50 day simple moving average of $95.89 and a 200-day simple moving average of $91.38.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on 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 approximately $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 accessible through this link. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SBUX shares. Stifel Nicolaus boosted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America cut their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.