Angeles Wealth Management LLC Has $295,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Angeles Wealth Management LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 11.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,236 shares of the coffee company’s stock after buying an additional 338 shares during the quarter. Angeles Wealth Management LLC’s holdings in Starbucks were worth $295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its position in Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC boosted its holdings in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP grew its position in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six 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 MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Price Performance

Shares of SBUX opened at $111.45 on Tuesday. Starbucks Co. has a one year low of $71.55 and a one year high of $112.62. The company has a market cap of $126.60 billion, a PE ratio of 35.95, a P/E/G ratio of 3.52 and a beta of 1.00. The stock has a 50-day moving average of $97.12 and a 200-day moving average of $94.84.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 earnings per share. Analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Starbucks Company 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.