Asset Dedication LLC Increases Position in Starbucks Co. (NASDAQ:SBUX)

Asset Dedication LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,940 shares of the coffee company’s stock after acquiring an additional 832 shares during the period. Asset Dedication LLC’s holdings in Starbucks were worth $1,181,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dakota Wealth Management lifted its position in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. increased its stake in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC lifted its holdings in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC boosted its position in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.4 %

Starbucks stock opened at $100.46 on Wednesday. The stock has a 50 day moving average of $95.70 and a 200-day moving average of $92.89. The stock has a market cap of $113.90 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.08 earnings per share for the current fiscal 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 issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SBUX shares. Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group lifted their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $104.92.

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.