Hickory Asset Management Inc. Makes New $408,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Hickory Asset Management Inc. acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,475 shares of the coffee company’s stock, valued at approximately $408,000.

A number of other large investors have also modified their holdings of SBUX. Financial Life Planners acquired a new position in shares of Starbucks in the fourth quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% during the 3rd 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 acquired a new position in shares of Starbucks during the 3rd quarter worth about $49,000. Finally, Friedenthal Financial acquired a new position in shares of Starbucks during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SBUX shares. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America decreased their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was 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 $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.55 on Friday. The company has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The business has a 50-day moving average of $98.03 and a two-hundred day moving average of $95.61. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s dividend payout ratio is currently 78.71%.

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.