Allworth Financial LP Raises Holdings in Starbucks Co. (NASDAQ:SBUX)

Allworth Financial LP grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 181,196 shares of the coffee company’s stock after acquiring an additional 2,223 shares during the quarter. Allworth Financial LP’s holdings in Starbucks were worth $17,708,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. bLong Financial LLC acquired a new position in Starbucks during the fourth quarter worth $243,000. Legacy Capital Wealth Partners LLC lifted its stake in Starbucks by 8.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,986 shares of the coffee company’s stock worth $273,000 after purchasing an additional 245 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in Starbucks by 9.7% during the fourth quarter. Everhart Financial Group Inc. now owns 4,420 shares of the coffee company’s stock worth $403,000 after purchasing an additional 390 shares in the last quarter. TigerOak Management L.L.C. acquired a new position in Starbucks during the fourth quarter worth $665,000. Finally, Hickory Asset Management Inc. acquired a new position in Starbucks during the fourth quarter worth $408,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.4 %

NASDAQ SBUX opened at $112.55 on Friday. The firm has a market cap of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.47. The business’s 50-day moving average price is $98.28 and its 200 day moving average price is $95.87.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.90 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s payout ratio is currently 78.71%.

Insider Activity 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 transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SBUX shares. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.