Merit Financial Group LLC Has $6.31 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Merit Financial Group LLC raised its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,181 shares of the coffee company's stock after acquiring an additional 2,918 shares during the quarter. Merit Financial Group LLC's holdings in Starbucks were worth $6,313,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company's stock worth $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank grew its position in Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company's stock valued at $707,000 after acquiring an additional 112 shares during the period. Virtue Capital Management LLC raised its stake in Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company's stock worth $674,000 after acquiring an additional 115 shares in the last quarter. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% during 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. Finally, Childress Capital Advisors LLC boosted its stake in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company's stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were 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 approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company's stock.

Starbucks Price Performance

NASDAQ SBUX traded up $0.70 during trading on Friday, reaching $95.13. 8,361,293 shares of the company's stock were exchanged, compared to its average volume of 7,954,453. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock has a market capitalization of $107.86 billion, a P/E ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. The business has a 50 day moving average price of $95.84 and a 200-day moving average price of $91.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. Starbucks's dividend payout ratio (DPR) is currently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. 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. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Wedbush reduced their price objective on Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein upgraded Starbucks from a "market perform" rating to an "outperform" rating and raised their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average 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.