Golden State Wealth Management LLC Takes $831,000 Position in Starbucks Co. (NASDAQ:SBUX)

Golden State Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,102 shares of the coffee company’s stock, valued at approximately $831,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 purchasing an additional 7,598,146 shares in the last quarter. FMR LLC boosted its holdings 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 buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 acquiring an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks during the third quarter valued at approximately $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $111.70 on Friday. The company has a market capitalization of $126.88 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The company’s fifty day moving average price is $96.73 and its 200 day moving average price is $94.20. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.42.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company posted $0.90 EPS. On average, equities analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.