Strategic Financial Concepts LLC Buys Shares of 61,131 Starbucks Co. (NASDAQ:SBUX)

Strategic Financial Concepts LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 61,131 shares of the coffee company’s stock, valued at approximately $62,000.

Several other institutional investors also recently modified their holdings of SBUX. Aspire Capital Advisors LLC increased its stake in Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares in the last quarter. Riverview Trust Co grew its stake in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the period. Optas LLC increased its position in Starbucks by 0.6% in the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after buying an additional 105 shares in the last quarter. Boomfish Wealth Group LLC raised its stake in Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after buying an additional 108 shares during the period. Finally, Foster Group Inc. boosted its holdings in Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock worth $263,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

Starbucks stock opened at $113.04 on Thursday. The firm’s 50 day moving average price is $97.51 and its 200-day moving average price is $95.37. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.19. The stock has a market cap of $128.40 billion, a P/E ratio of 36.46, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.