Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. grew its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 42.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,992 shares of the coffee company's stock after buying an additional 7,706 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Starbucks were worth $2,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter valued at approximately $25,000. DT Investment Partners LLC boosted its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Starbucks during the 3rd quarter valued at about $49,000. Friedenthal Financial purchased a new position in Starbucks in the 3rd quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $71,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.98% of the company's stock.

Starbucks Price Performance

Shares of SBUX stock traded up $0.01 during trading hours on Wednesday, reaching $93.08. 4,552,904 shares of the stock were exchanged, compared to its average volume of 6,631,214. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The business's fifty day moving average is $95.98 and its two-hundred day moving average is $91.34. The firm has a market capitalization of $105.53 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.86 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 EPS for the quarter, meeting analysts' consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks's dividend payout ratio (DPR) is 73.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SBUX shares. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday, November 15th. They issued an "outperform" rating and a $115.00 target price for the company. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.77.

About Starbucks

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.