Copley Financial Group Inc. Takes Position in Starbucks Co. (NASDAQ:SBUX)

Copley Financial Group Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 7,577 shares of the coffee company’s stock, valued at approximately $739,000. Starbucks makes up 0.7% of Copley Financial Group Inc.’s holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in Starbucks during the 2nd quarter valued at about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.77.

Insider Buying and Selling

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

Starbucks Price Performance

Starbucks stock traded down $0.26 during trading hours on Friday, hitting $97.56. The company had a trading volume of 609,190 shares, compared to its average volume of 10,783,300. The firm has a market capitalization of $110.61 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The firm’s fifty day moving average is $98.22 and its 200-day moving average is $89.31. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. Analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks 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.