Elevated Capital Advisors LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,756 shares of the coffee company’s stock, valued at approximately $242,000.
Other institutional investors have also modified their holdings of the company. Regal Wealth Group Inc. increased its holdings in Starbucks by 210.7% in the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock valued at $28,000 after buying an additional 217 shares in the last quarter. 1 North Wealth Services LLC purchased a new position in Starbucks in the third quarter valued at $30,000. Sound Income Strategies LLC increased its holdings in Starbucks by 209.0% in the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock valued at $30,000 after buying an additional 232 shares in the last quarter. Tobias Financial Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at $31,000. Finally, Shine Investment Advisory Services Inc. increased its holdings in Starbucks by 63.0% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock valued at $33,000 after buying an additional 143 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.
SBUX opened at $89.28 on Friday. The firm has a market capitalization of $105.54 billion, a PE ratio of 31.33, a PEG ratio of 2.18 and a beta of 0.56. Starbucks Co. has a twelve month low of $69.03 and a twelve month high of $99.72. The firm’s 50-day moving average price is $89.17 and its 200 day moving average price is $89.13.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.64 dividend on an annualized basis and a yield of 1.84%. Starbucks’s payout ratio is presently 57.95%.
A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $85.00 price objective on shares of Starbucks in a report on Wednesday, January 29th. BidaskClub cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Weeden reaffirmed a “neutral” rating on shares of Starbucks in a report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Starbucks in a report on Wednesday, January 29th. Finally, Wedbush reissued a “neutral” rating on shares of Starbucks in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $93.71.
In related news, EVP Lucy Lee Helm sold 18,982 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $88.12, for a total transaction of $374,686.24. The disclosure for this sale can be found here. Insiders have sold 25,234 shares of company stock worth $2,227,343 over the last 90 days. 0.41% of the stock is currently owned by company insiders.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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