Starbucks Co. (NASDAQ:SBUX) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,411 shares of the coffee company’s stock after purchasing an additional 2,489 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Starbucks were worth $2,319,000 at the end of the most recent reporting period.

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

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s 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 sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wedbush reduced their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Trading Down 0.5 %

Shares of SBUX stock opened at $93.07 on Wednesday. The firm’s fifty day simple moving average is $95.98 and its 200 day simple moving average is $91.34. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a market capitalization of $105.52 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company posted $1.06 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.11 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 given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.62%. Starbucks’s payout ratio is 73.72%.

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.