Moloney Securities Asset Management LLC grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 176.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,199 shares of the coffee company’s stock after purchasing an additional 6,505 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Starbucks were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Regal Wealth Group Inc. grew its position in Starbucks by 210.7% in the 4th 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 during the last quarter. 1 North Wealth Services LLC purchased a new stake in shares of Starbucks during the 3rd quarter worth $30,000. Sound Income Strategies LLC boosted its position in shares of Starbucks by 209.0% during the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after purchasing an additional 232 shares in the last quarter. Tobias Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth $31,000. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Starbucks by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock worth $33,000 after purchasing an additional 14,069 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.
Shares of SBUX stock opened at $89.28 on Friday. The firm has a 50-day moving average price of $89.17 and a 200 day moving average price of $89.13. Starbucks Co. has a twelve month low of $69.03 and a twelve month high of $99.72. The company has a market capitalization of $105.54 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 2.18 and a beta of 0.56.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.84%. The ex-dividend date is Wednesday, February 5th. Starbucks’s payout ratio is 57.95%.
Several research firms have recently issued reports on SBUX. BidaskClub downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. MKM Partners began coverage on Starbucks in a research note on Wednesday. They set a “buy” rating and a price target for the company. Barclays raised Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 price target for the company in a research note on Thursday, January 9th. Stephens reaffirmed an “equal weight” rating and set a $90.00 price target on shares of Starbucks in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised Starbucks to a “buy” rating and set a $94.00 price target for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $93.71.
In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total value of $374,686.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $86.47, for a total value of $172,940.00. The disclosure for this sale can be found here. Insiders sold a total of 25,234 shares of company stock valued at $2,227,343 in the last three months. 0.41% of the stock is currently owned by corporate insiders.
Starbucks Company Profile
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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