MKT Advisors LLC Has $794,000 Position in Starbucks Co. (NASDAQ:SBUX)

MKT Advisors LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,351 shares of the coffee company’s stock after purchasing an additional 789 shares during the quarter. MKT Advisors LLC’s holdings in Starbucks were worth $794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its holdings in shares of Starbucks by 73.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after buying an additional 18,420 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in Starbucks by 21.8% during the second quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock worth $1,110,000 after acquiring an additional 2,552 shares in the last quarter. MBB Public Markets I LLC grew its holdings in Starbucks by 2,424.2% in the second quarter. MBB Public Markets I LLC now owns 80,346 shares of the coffee company’s stock worth $6,255,000 after purchasing an additional 77,163 shares during the period. The Manufacturers Life Insurance Company increased its stake in Starbucks by 158.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,824,133 shares of the coffee company’s stock valued at $142,009,000 after purchasing an additional 1,117,343 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

SBUX stock opened at $98.81 on Friday. The company has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The business’s 50 day moving average price is $95.66 and its two-hundred day moving average price is $92.25. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last released its 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Activity at Starbucks

In other Starbucks 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 sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Barclays decreased their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.