Aspire Capital Advisors LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Aspire Capital Advisors LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,210 shares of the coffee company’s stock after purchasing an additional 104 shares during the period. Aspire Capital Advisors LLC’s holdings in Starbucks were worth $2,118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth approximately $25,000. DT Investment Partners LLC lifted its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks in the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Starbucks in the third quarter valued at approximately $71,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 0.3 %

SBUX opened at $99.74 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a 50-day simple moving average of $95.66 and a two-hundred day simple moving average of $92.53. The company has a market capitalization of $113.08 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company earned $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

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. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analysts Set New Price Targets

Several research analysts have commented on SBUX shares. Barclays cut their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.08.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is owned by insiders.

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.