Nkcfo LLC Increases Position in Starbucks Co. (NASDAQ:SBUX)

Nkcfo LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,350 shares of the coffee company’s stock after acquiring an additional 9,400 shares during the quarter. Starbucks makes up about 1.5% of Nkcfo LLC’s holdings, making the stock its 15th largest position. Nkcfo LLC’s holdings in Starbucks were worth $3,408,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC lifted its stake in Starbucks by 4.7% in the third quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock valued at $553,000 after purchasing an additional 252 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Starbucks during the 3rd quarter valued at $230,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Starbucks by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock worth $12,405,000 after acquiring an additional 5,534 shares during the period. Onyx Bridge Wealth Group LLC purchased a new stake in Starbucks in the 3rd quarter worth about $226,000. Finally, Claro Advisors LLC raised its stake in Starbucks by 35.8% in the 3rd quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock valued at $1,653,000 after acquiring an additional 4,474 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets raised 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 reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.55 on Friday. The stock has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The firm’s 50 day simple moving average is $98.28 and its two-hundred day simple moving average is $95.87.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 last year, the business earned $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is currently 78.71%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

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.