O Keefe Stevens Advisory Inc. Grows Stake in Starbucks Co. (NASDAQ:SBUX)

O Keefe Stevens Advisory Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 43.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,507 shares of the coffee company’s stock after purchasing an additional 2,272 shares during the period. O Keefe Stevens Advisory Inc.’s holdings in Starbucks were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of 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. FMR LLC lifted its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade 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. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of SBUX opened at $95.13 on Friday. The stock has a 50 day moving average price of $95.89 and a 200 day moving average price of $91.38. The stock has a market capitalization of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, analysts predict that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Analyst Ratings Changes

Several analysts have recently weighed in on SBUX shares. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Stifel Nicolaus increased their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays reduced their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.