Phillips Wealth Planners LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Phillips Wealth Planners LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 50.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,156 shares of the coffee company’s stock after buying an additional 1,739 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Starbucks were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Riverview Trust Co grew its stake in Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares in the last quarter. Essex Savings Bank lifted its position in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares during the last quarter. Virtue Capital Management LLC lifted its position in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the last quarter. DT Investment Partners LLC lifted 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 last quarter. Finally, Childress Capital Advisors LLC lifted its position in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $97.73 on Thursday. The firm has a market capitalization of $110.81 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99. The business’s fifty day moving average price is $95.72 and its two-hundred day moving average price is $92.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) 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 firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Announces Dividend

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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SBUX shares. Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays cut their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. BTIG Research upped their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. 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 issued a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $103.92.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was 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 represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

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.