Whitaker Myers Wealth Managers LTD. Invests $322,000 in Starbucks Co. (NASDAQ:SBUX)

Whitaker Myers Wealth Managers LTD. purchased a new position in Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,531 shares of the coffee company's stock, valued at approximately $322,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company's stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC increased its position in shares of Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company's stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC increased its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Wellington Management Group LLP increased its position in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company's stock valued at $1,146,744,000 after acquiring an additional 327,734 shares during the period. 72.29% of the stock is owned by institutional investors.

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 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 directly owns 80,124 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Royal Bank of Canada initiated coverage on shares of Starbucks in a research report on Friday, November 15th. They set an "outperform" rating and a $115.00 price target on the stock. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays reduced their price target on shares of Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Finally, Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.92.

Starbucks Stock Up 0.7 %

Shares of NASDAQ SBUX traded up $0.70 during midday trading on Friday, hitting $95.13. The stock had a trading volume of 8,361,293 shares, compared to its average volume of 7,954,453. The business's 50 day moving average is $95.84 and its 200-day moving average is $91.60. The company has a market cap of $107.86 billion, a P/E ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 earnings per share. As a group, analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The business 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 dividend of $0.61 per share. 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 73.72%.

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.