Allen Capital Group LLC Takes $462,000 Position in Starbucks Co. (NASDAQ:SBUX)

Allen Capital Group LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, Holdings Channel reports. The fund purchased 4,813 shares of the coffee company’s stock, valued at approximately $462,000.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Starbucks by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 395,502 shares of the coffee company’s stock valued at $37,972,000 after purchasing an additional 19,262 shares in the last quarter. Everence Capital Management Inc. lifted its position in Starbucks by 15.8% in the 4th quarter. Everence Capital Management Inc. now owns 30,132 shares of the coffee company’s stock worth $2,893,000 after buying an additional 4,110 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in Starbucks by 10.1% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,903 shares of the coffee company’s stock worth $567,000 after buying an additional 543 shares in the last quarter. Main Street Research LLC lifted its position in Starbucks by 6.6% in the 4th quarter. Main Street Research LLC now owns 5,173 shares of the coffee company’s stock worth $497,000 after buying an additional 322 shares in the last quarter. Finally, Octavia Wealth Advisors LLC lifted its position in Starbucks by 81.5% in the 4th quarter. Octavia Wealth Advisors LLC now owns 4,389 shares of the coffee company’s stock worth $421,000 after buying an additional 1,971 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $86.14 on Wednesday. The firm has a market cap of $97.53 billion, a P/E ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The firm has a 50-day moving average of $91.51 and a 200 day moving average of $94.53. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the business posted $0.75 earnings per share. Starbucks’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,000 shares of company stock valued at $375,665 over the last three months. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on SBUX. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Morgan Stanley dropped their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Jefferies Financial Group dropped their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. HSBC initiated coverage on shares of Starbucks in a research note on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target on the stock. Finally, StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $107.43.

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.