Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Bar Harbor Wealth Management

Bar Harbor Wealth Management increased its position in Starbucks Co. (NASDAQ:SBUX) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,892 shares of the coffee company’s stock after buying an additional 1,733 shares during the quarter. Bar Harbor Wealth Management’s holdings in Starbucks were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at $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 worth $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at about $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $50,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Starbucks during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock traded up $1.29 on Monday, reaching $93.54. The company’s stock had a trading volume of 5,493,522 shares, compared to its average volume of 6,649,096. The firm has a fifty day moving average of $96.13 and a two-hundred day moving average of $91.13. The company has a market capitalization of $106.06 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.86 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) 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 business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.61%. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays decreased their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus lifted 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. JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada began coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.98% of the stock is currently owned by insiders.

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.