Matrix Trust Co Purchases 914 Shares of Starbucks Co. (NASDAQ:SBUX)

Matrix Trust Co increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 605.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,065 shares of the coffee company’s stock after purchasing an additional 914 shares during the period. Matrix Trust Co’s holdings in Starbucks were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. Fairfield Financial Advisors LTD bought a new stake in Starbucks during the second quarter worth approximately $41,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the 3rd quarter valued at approximately $49,000. Finally, Friedenthal Financial purchased a new position in shares of Starbucks in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Trading Up 1.4 %

NASDAQ SBUX opened at $93.51 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The firm’s fifty day simple moving average is $96.06 and its two-hundred day simple moving average is $91.24. The firm has a market capitalization of $106.02 billion, a P/E ratio of 28.25, a P/E/G ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.61%. Starbucks’s payout ratio is 73.72%.

Starbucks Company Profile

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.