Sovran Advisors LLC Takes $548,000 Position in Starbucks Co. (NASDAQ:SBUX)

Sovran Advisors LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,892 shares of the coffee company’s stock, valued at approximately $548,000.

A number of other hedge funds have also bought and sold shares of the business. Stonebridge Financial Group LLC bought a new stake in Starbucks in the fourth quarter worth about $393,000. First Fiduciary Investment Counsel Inc. grew its position in shares of Starbucks by 3.3% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 92,329 shares of the coffee company’s stock valued at $8,425,000 after acquiring an additional 2,939 shares during the period. Panoramic Capital Partners LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $296,000. Arlington Partners LLC raised its holdings in shares of Starbucks by 1.3% in the 4th quarter. Arlington Partners LLC now owns 44,487 shares of the coffee company’s stock worth $4,059,000 after purchasing an additional 553 shares during the period. Finally, Equitable Trust Co. lifted its stake in Starbucks by 2.5% in the fourth quarter. Equitable Trust Co. now owns 34,406 shares of the coffee company’s stock valued at $3,140,000 after purchasing an additional 834 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of several research reports. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Citigroup boosted their price target 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. Finally, Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Price Performance

SBUX stock opened at $113.04 on Thursday. The firm has a 50 day simple moving average of $97.51 and a two-hundred day simple moving average of $95.37. The stock has a market cap 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 one year low of $71.55 and a one year high of $113.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $0.90 earnings per share. On average, research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 2.16%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently 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.