M Wealth Management LLC Purchases Shares of 2,402 Starbucks Co. (NASDAQ:SBUX)

M Wealth Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,402 shares of the coffee company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $25,000. DT Investment Partners LLC boosted 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 valued at $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter valued at about $49,000. Friedenthal Financial acquired a new position in Starbucks in the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks during the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $109.05 on Thursday. The business’s 50-day simple moving average is $95.70 and its 200-day simple moving average is $92.89. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $110.08. The stock has a market capitalization of $123.64 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the company earned $0.90 EPS. On average, research analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 yield of 2.24%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SBUX. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BTIG Research increased their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

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.