Morton Capital Management LLC CA Purchases 4,003 Shares of Starbucks Co. (NASDAQ:SBUX)

Morton Capital Management LLC CA increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 144.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,771 shares of the coffee company's stock after purchasing an additional 4,003 shares during the period. Morton Capital Management LLC CA's holdings in Starbucks were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Cohen Investment Advisors LLC lifted its holdings in Starbucks by 2.3% in the fourth quarter. Cohen Investment Advisors LLC now owns 23,284 shares of the coffee company's stock valued at $2,125,000 after acquiring an additional 521 shares during the period. Capital Advisors Wealth Management LLC increased its position in shares of Starbucks by 27.3% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 3,583 shares of the coffee company's stock valued at $327,000 after purchasing an additional 768 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Starbucks by 20.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,545 shares of the coffee company's stock worth $415,000 after purchasing an additional 779 shares during the period. Apella Capital LLC boosted its holdings in shares of Starbucks by 8.3% in the fourth quarter. Apella Capital LLC now owns 7,522 shares of the coffee company's stock worth $686,000 after buying an additional 576 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Starbucks by 42.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 25,992 shares of the coffee company's stock valued at $2,372,000 after buying an additional 7,706 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.70 during trading on Friday, hitting $95.13. The stock had a trading volume of 8,361,293 shares, compared to its average volume of 6,781,045. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm's fifty day simple moving average is $95.89 and its 200-day simple moving average is $91.38. The stock has a market cap of $107.86 billion, a PE ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid 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%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBUX shares. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Redburn Atlantic reaffirmed a "sell" rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Jefferies Financial Group lowered shares of Starbucks from a "hold" rating to an "underperform" rating and reduced their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Stifel Nicolaus lifted their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $103.92.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm'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 transaction, the chief financial officer now owns 80,124 shares of the company's stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.98% of the company's stock.

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.