Cidel Asset Management Inc. Grows Position in Starbucks Co. (NASDAQ:SBUX)

Cidel Asset Management Inc. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,460 shares of the coffee company’s stock after purchasing an additional 397 shares during the period. Cidel Asset Management Inc.’s holdings in Starbucks were worth $681,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SBUX. Financial Life Planners purchased a new position in shares of Starbucks in the 4th quarter worth $25,000. DT Investment Partners LLC increased its position in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial acquired a new position in Starbucks during the third quarter valued at approximately $50,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $56,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.4 %

Shares of Starbucks stock opened at $112.20 on Friday. The stock has a market capitalization of $127.45 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.62. The business’s 50 day simple moving average is $97.12 and its 200-day simple moving average is $94.57.

Starbucks (NASDAQ:SBUX) last issued 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm earned $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBUX. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% 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.