Versant Capital Management Inc Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Versant Capital Management Inc increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,371 shares of the coffee company’s stock after purchasing an additional 392 shares during the quarter. Versant Capital Management Inc’s holdings in Starbucks were worth $216,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Copley Financial Group Inc. purchased a new stake in shares of Starbucks during the third quarter valued at approximately $739,000. Franklin Resources Inc. grew its stake in Starbucks by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 4,268,115 shares of the coffee company’s stock valued at $404,458,000 after purchasing an additional 249,342 shares during the period. Tidal Investments LLC increased its position in shares of Starbucks by 61.3% during the 3rd quarter. Tidal Investments LLC now owns 54,076 shares of the coffee company’s stock valued at $5,272,000 after purchasing an additional 20,544 shares during the last quarter. Cim Investment Management Inc. raised its stake in shares of Starbucks by 64.7% during the 3rd quarter. Cim Investment Management Inc. now owns 29,247 shares of the coffee company’s stock worth $2,851,000 after purchasing an additional 11,488 shares during the period. Finally, Destination Wealth Management purchased a new position in shares of Starbucks in the 3rd quarter worth about $231,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic reissued a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. 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 note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Up 0.4 %

NASDAQ SBUX opened at $92.58 on Friday. The stock’s 50 day moving average is $96.74 and its 200 day moving average is $90.45. The firm has a market capitalization of $104.97 billion, a PE ratio of 27.97, a P/E/G ratio of 2.86 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 3.11 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. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.64%. Starbucks’s payout ratio is 73.72%.

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.