Evolution Wealth Advisors LLC Invests $242,000 in Starbucks Co. (NASDAQ:SBUX)

Evolution Wealth Advisors LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,657 shares of the coffee company’s stock, valued at approximately $242,000.

A number of other large investors also recently made changes to their positions in SBUX. Wellington Management Group LLP increased its stake in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC grew its position in 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 buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% during 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 buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Starbucks by 1,078.5% during the third 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 in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Starbucks during the third quarter worth approximately $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBUX shares. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Trading Down 0.3 %

Shares of SBUX opened at $97.73 on Thursday. The company has a market capitalization of $110.81 billion, a PE ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock’s 50-day moving average price is $95.72 and its two-hundred day moving average price is $92.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm 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 business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Equities research analysts predict that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.98% 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.