Keudell Morrison Wealth Management Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Keudell Morrison Wealth Management increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,867 shares of the coffee company’s stock after buying an additional 370 shares during the period. Keudell Morrison Wealth Management’s holdings in Starbucks were worth $900,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC increased its position in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks in the 3rd quarter valued at $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SBUX. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America dropped their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays increased 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.52.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’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 value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. The trade was 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. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $109.00 on Friday. The firm has a market capitalization of $123.81 billion, a P/E ratio of 35.16, a PEG ratio of 3.47 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $110.34. The company’s 50-day simple moving average is $96.08 and its 200 day simple moving average is $93.11.

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, topping 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 prior year, the company posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.24%. Starbucks’s dividend payout ratio is currently 78.71%.

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.