Whitaker Myers Wealth Managers LTD. Purchases Shares of 3,531 Starbucks Co. (NASDAQ:SBUX)

Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,531 shares of the coffee company’s stock, valued at approximately $322,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter valued at approximately $25,000. DT Investment Partners LLC boosted 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 valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial bought a new stake in shares of Starbucks in the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Starbucks in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.7 %

Shares of SBUX stock opened at $95.13 on Friday. The stock has a 50-day moving average price of $95.84 and a 200 day moving average price of $91.50. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. Sell-side analysts predict that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 dividend on an annualized basis and a yield of 2.56%. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Stifel Nicolaus raised their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.