Starbucks Co. (NASDAQ:SBUX) Shares Bought by Morton Capital Management LLC CA

Morton Capital Management LLC CA lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 144.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,771 shares of the coffee company’s stock after purchasing an additional 4,003 shares during the period. Morton Capital Management LLC CA’s holdings in Starbucks were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter worth $25,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks during the 3rd quarter valued at about $49,000. Friedenthal Financial bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks during the third quarter valued at approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by insiders.

Starbucks Trading Up 1.5 %

Shares of NASDAQ:SBUX opened at $94.43 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a fifty day moving average price of $95.92 and a 200 day moving average price of $91.35. The stock has a market capitalization of $107.06 billion, a PE ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 3.1 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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America dropped 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. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.