Capital Planning LLC Has $1.10 Million Position in Starbucks Co. (NASDAQ:SBUX)

Capital Planning LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 40.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,039 shares of the coffee company’s stock after purchasing an additional 3,483 shares during the quarter. Capital Planning LLC’s holdings in Starbucks were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Dakota Wealth Management raised 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 purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its position in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC lifted its stake in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC boosted its holdings in Starbucks by 48.5% in the third 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 last quarter. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Bank of America decreased their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Barclays lowered their target price 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. Wedbush lowered their target price 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. Royal Bank of Canada began coverage on shares of Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Finally, BTIG Research lifted their target price 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $94.43 on Friday. The stock has a market capitalization of $107.06 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99. The company has a 50-day moving average price of $95.92 and a 200-day moving average price of $91.35. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by insiders.

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.