Abound Wealth Management Buys 156 Shares of Starbucks Co. (NASDAQ:SBUX)

Abound Wealth Management boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 775 shares of the coffee company’s stock after acquiring an additional 156 shares during the period. Abound Wealth Management’s holdings in Starbucks were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. Fairfield Financial Advisors LTD acquired a new position in Starbucks in the second quarter valued at $41,000. DT Investment Partners LLC boosted its position in Starbucks by 39.4% during the third 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 during the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the 3rd quarter worth about $49,000. Finally, Friedenthal Financial bought a new position in shares of Starbucks in the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group increased their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Up 0.9 %

SBUX traded up $0.85 during trading hours on Monday, hitting $93.10. The stock had a trading volume of 4,657,873 shares, compared to its average volume of 6,598,137. The stock has a market cap of $105.56 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.86 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 company’s fifty day simple moving average is $96.13 and its 200 day simple moving average is $91.13.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. As a group, equities analysts expect that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Announces Dividend

The company 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. 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 2.62%. Starbucks’s dividend payout ratio (DPR) is currently 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.