Hidden Cove Wealth Management LLC Acquires Shares of 4,160 Starbucks Co. (NASDAQ:SBUX)

Hidden Cove Wealth Management LLC bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,160 shares of the coffee company’s stock, valued at approximately $380,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth $25,000. Collier Financial bought a new stake in shares of Starbucks in the fourth quarter worth about $27,000. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter worth about $49,000. Finally, Friedenthal Financial bought a new position in Starbucks during the third quarter valued at approximately $50,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $113.04 on Thursday. The company has a market capitalization of $128.40 billion, a PE ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.19. The firm’s 50-day moving average is $97.51 and its 200 day moving average is $95.37.

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

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is currently 78.71%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SBUX shares. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Citigroup increased their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.