Pines Wealth Management LLC Purchases New Holdings in Starbucks Co. (NASDAQ:SBUX)

Pines Wealth Management LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,714 shares of the coffee company’s stock, valued at approximately $250,000.

A number of other institutional investors also recently made changes to their positions in the business. Dakota Wealth Management increased its stake in shares of Starbucks by 0.5% in the third 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 during the last quarter. Weil Company Inc. increased its position 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 worth $3,371,000 after purchasing an additional 8,222 shares during the last quarter. Maia Wealth LLC raised its stake in shares of 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 purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its position in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% in the third 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. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.0 %

Shares of Starbucks stock opened at $93.08 on Thursday. The business has a fifty day simple moving average of $95.98 and a 200-day simple moving average of $91.34. The firm has a market cap of $105.53 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. 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 quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given 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 dividend yield of 2.62%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Barclays reduced their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. 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 report on Monday, September 30th. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, UBS Group increased their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale 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 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.