M Wealth Management LLC Invests $219,000 in Starbucks Co. (NASDAQ:SBUX)

M Wealth Management LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,402 shares of the coffee company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Regal Investment Advisors LLC grew its holdings in Starbucks by 19.8% during the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after acquiring an additional 1,634 shares in the last quarter. Truist Financial Corp lifted its holdings in Starbucks by 21.8% during the 2nd quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock worth $62,816,000 after buying an additional 144,516 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $316,000. Farmers National Bank increased its holdings in shares of Starbucks by 4.7% in the 2nd quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock valued at $4,763,000 after acquiring an additional 2,737 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter worth $25,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.4 %

Shares of SBUX opened at $109.05 on Thursday. The business’s 50-day moving average price is $95.70 and its 200 day moving average price is $92.89. The stock has a market capitalization of $123.64 billion, a P/E ratio of 33.03, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $110.08.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the prior year, the company earned $0.90 EPS. On average, research analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.24%. Starbucks’s payout ratio is currently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays boosted their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday. Finally, BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.52.

Starbucks Company 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.