Formidable Asset Management LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,726 shares of the coffee company’s stock, valued at approximately $2,653,000. Starbucks accounts for approximately 0.8% of Formidable Asset Management LLC’s investment portfolio, making the stock its 18th biggest position.
Other institutional investors have also recently bought and sold shares of the company. Regal Wealth Group Inc. increased its position in shares of Starbucks by 210.7% during the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock worth $28,000 after acquiring an additional 217 shares during the period. Sound Income Strategies LLC increased its position in shares of Starbucks by 209.0% during the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after acquiring an additional 232 shares during the period. Tobias Financial Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter worth approximately $31,000. Solstein Capital LLC purchased a new position in shares of Starbucks during the fourth quarter worth approximately $32,000. Finally, Shine Investment Advisory Services Inc. increased its position in shares of Starbucks by 63.0% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock worth $33,000 after acquiring an additional 143 shares during the period. 69.29% of the stock is currently owned by institutional investors.
SBUX has been the topic of a number of research reports. Barclays raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 target price on the stock in a research report on Thursday, January 9th. BidaskClub lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Morgan Stanley reduced their target price on shares of Starbucks from $95.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, March 6th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, March 6th. Finally, Piper Sandler reduced their target price on shares of Starbucks from $84.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $89.76.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $70.14, for a total value of $140,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lucy Lee Helm sold 18,982 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,234 shares of company stock valued at $2,194,683. 0.41% of the stock is owned by insiders.
NASDAQ SBUX opened at $68.30 on Thursday. The firm’s 50 day moving average price is $85.14 and its 200-day moving average price is $87.31. Starbucks Co. has a 52-week low of $67.40 and a 52-week high of $99.72. The company has a market cap of $87.87 billion, a PE ratio of 22.32, a P/E/G ratio of 1.89 and a beta of 0.58.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 2.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Thursday, February 6th were paid a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.64 annualized dividend and a yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is 57.95%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Recommended Story: Understanding Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.