Crews Bank & Trust Purchases New Shares in Starbucks Co. (NASDAQ:SBUX)

Crews Bank & Trust purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 3,541 shares of the coffee company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dakota Wealth Management raised its position in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. grew its stake in 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 grew its stake 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 purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC grew its stake 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 purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% in 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.52.

Starbucks Stock Up 0.4 %

NASDAQ:SBUX opened at $109.00 on Friday. The business’s 50-day moving average price is $95.90 and its two-hundred day moving average price is $93.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34. The stock has a market cap of $123.81 billion, a P/E ratio of 35.16, a PEG ratio of 3.47 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.30% and a net margin of 9.73%. During the same period in the previous year, the company posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 annualized dividend and a dividend yield of 2.24%. Starbucks’s payout ratio is currently 78.71%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was 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. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.98% of the company’s stock.

About Starbucks

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.