Fragasso Financial Advisors Inc Has $977,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Fragasso Financial Advisors Inc grew its position in Starbucks Co. (NASDAQ:SBUX) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,706 shares of the coffee company’s stock after buying an additional 555 shares during the period. Fragasso Financial Advisors Inc’s holdings in Starbucks were worth $977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Dakota Wealth Management lifted its position in Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. raised its holdings in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC raised its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC raised its holdings in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its position in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays dropped their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Morgan Stanley raised their price target 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. Finally, BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’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 sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.4 %

Starbucks stock traded up $0.36 during midday trading on Monday, hitting $92.61. 3,542,372 shares of the stock were exchanged, compared to its average volume of 6,465,325. The stock has a market capitalization of $105.00 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The business’s 50-day moving average price is $96.13 and its 200-day moving average price is $91.13.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business 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 revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is 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.