Atomi Financial Group Inc. Purchases 1,741 Shares of Starbucks Co. (NASDAQ:SBUX)

Atomi Financial Group Inc. lifted its position in Starbucks Co. (NASDAQ:SBUX) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,861 shares of the coffee company’s stock after purchasing an additional 1,741 shares during the quarter. Atomi Financial Group Inc.’s holdings in Starbucks were worth $1,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC increased 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 purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial bought a new stake in Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP bought a new stake in Starbucks during the third quarter valued at approximately $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

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 value of $148,414.14. Following the sale, the chief financial officer now 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. Morgan Stanley raised their price objective 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. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $97.98 on Wednesday. The firm’s 50 day moving average price is $95.74 and its 200-day moving average price is $91.84. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The company has a market cap of $111.09 billion, a PE ratio of 29.60, a P/E/G ratio of 2.82 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The company’s revenue 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 fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.49%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

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.