GAMMA Investing LLC Buys 1,783 Shares of Starbucks Co. (NASDAQ:SBUX)

GAMMA Investing LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,888 shares of the coffee company’s stock after buying an additional 1,783 shares during the period. GAMMA Investing LLC’s holdings in Starbucks were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter worth about $25,000. DT Investment Partners LLC raised its stake in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new position in shares of Starbucks during the 3rd quarter worth approximately $49,000. Friedenthal Financial acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $50,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Starbucks in the 2nd quarter valued at $41,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.4 %

SBUX opened at $92.58 on Friday. The company has a market cap of $104.97 billion, a P/E ratio of 27.97, a PEG ratio of 2.86 and a beta of 0.97. The company’s 50 day moving average is $96.74 and its 200-day moving average is $90.45. Starbucks Co. has a 1-year low of $71.55 and a 1-year 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 for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.64%. Starbucks’s payout ratio is presently 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.