Synergy Asset Management LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Synergy Asset Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 181.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,372 shares of the coffee company’s stock after buying an additional 4,109 shares during the quarter. Synergy Asset Management LLC’s holdings in Starbucks were worth $599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter valued at $25,000. DT Investment Partners LLC boosted its position in Starbucks by 39.4% during 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 in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks in the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 8.1 %

NASDAQ SBUX opened at $108.58 on Thursday. The stock has a fifty day simple moving average of $95.70 and a 200-day simple moving average of $92.89. The stock has a market cap of $123.11 billion, a PE ratio of 32.80, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.08.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBUX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.52.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, 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 is available at the SEC website. 1.98% of the stock is owned by 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.