Flagship Harbor Advisors LLC Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Flagship Harbor Advisors LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 62.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,656 shares of the coffee company’s stock after purchasing an additional 2,167 shares during the period. Flagship Harbor Advisors LLC’s holdings in Starbucks were worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the second quarter worth $25,000. DT Investment Partners LLC increased its holdings in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial bought a new position in Starbucks during the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $71,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.4 %

Shares of SBUX stock opened at $100.46 on Wednesday. The company’s fifty day simple moving average is $95.65 and its two-hundred day simple moving average is $92.71. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock has a market cap of $113.90 billion, a P/E ratio of 30.35, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period in the prior year, the company earned $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 2.43%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBUX. Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.08.

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.