DAVENPORT & Co LLC Has $7.43 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

DAVENPORT & Co LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,377 shares of the coffee company’s stock after purchasing an additional 756 shares during the quarter. DAVENPORT & Co LLC’s holdings in Starbucks were worth $7,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank raised its stake in Starbucks by 6.9% during the 3rd quarter. Czech National Bank now owns 230,845 shares of the coffee company’s stock valued at $22,505,000 after purchasing an additional 14,999 shares during the period. GAMMA Investing LLC grew its stake in Starbucks by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 15,105 shares of the coffee company’s stock valued at $1,473,000 after acquiring an additional 2,417 shares in the last quarter. Everpar Advisors LLC increased its holdings in shares of Starbucks by 10.9% in the 3rd quarter. Everpar Advisors LLC now owns 5,014 shares of the coffee company’s stock valued at $489,000 after purchasing an additional 494 shares during the period. Smith Anglin Financial LLC lifted its position in shares of Starbucks by 7.4% in the third quarter. Smith Anglin Financial LLC now owns 2,772 shares of the coffee company’s stock worth $270,000 after purchasing an additional 190 shares in the last quarter. Finally, Chemistry Wealth Management LLC boosted its holdings in shares of Starbucks by 2.3% during the third quarter. Chemistry Wealth Management LLC now owns 8,901 shares of the coffee company’s stock worth $868,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.2 %

Shares of SBUX stock opened at $107.68 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.34. The stock has a 50 day moving average of $96.19 and a two-hundred day moving average of $93.48. The company has a market capitalization of $122.31 billion, a P/E ratio of 34.74, a P/E/G ratio of 3.47 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.30% and a net margin of 9.73%. During the same quarter last year, the firm posted $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.27%. Starbucks’s payout ratio is currently 78.71%.

About Starbucks

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.