Godsey & Gibb Associates increased its position in Starbucks Co. (NASDAQ:SBUX) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 181,064 shares of the coffee company’s stock after purchasing an additional 11,832 shares during the period. Starbucks accounts for about 2.2% of Godsey & Gibb Associates’ holdings, making the stock its 25th biggest holding. Godsey & Gibb Associates’ holdings in Starbucks were worth $15,919,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Starbucks in the third quarter valued at approximately $83,893,000. Banco Santander S.A. raised its position in Starbucks by 1,336.5% in the 3rd quarter. Banco Santander S.A. now owns 920,478 shares of the coffee company’s stock valued at $81,389,000 after purchasing an additional 856,400 shares during the last quarter. Point72 Asset Management L.P. raised its position in Starbucks by 3,690.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 621,731 shares of the coffee company’s stock valued at $54,973,000 after purchasing an additional 605,330 shares during the last quarter. First Trust Advisors LP boosted its stake in Starbucks by 146.6% during the 4th quarter. First Trust Advisors LP now owns 963,393 shares of the coffee company’s stock worth $84,702,000 after purchasing an additional 572,702 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Starbucks by 46.4% during the 3rd quarter. Squarepoint Ops LLC now owns 1,546,622 shares of the coffee company’s stock worth $136,752,000 after purchasing an additional 490,028 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.
SBUX traded down $0.05 during trading on Friday, reaching $89.88. The company’s stock had a trading volume of 166,641 shares, compared to its average volume of 8,173,421. Starbucks Co. has a 52-week low of $69.03 and a 52-week high of $99.72. The company’s fifty day moving average price is $89.14 and its 200-day moving average price is $89.18. The company has a market capitalization of $105.54 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, February 5th. Starbucks’s dividend payout ratio is presently 57.95%.
SBUX has been the topic of a number of recent research reports. Barclays upgraded shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 price objective on the stock in a research note on Thursday, January 9th. Morgan Stanley increased their target price on shares of Starbucks from $88.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. BMO Capital Markets reiterated a “market perform” rating and set a $85.00 target price on shares of Starbucks in a research note on Wednesday, January 29th. Weeden reissued a “neutral” rating on shares of Starbucks in a report on Friday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $97.00 price target on shares of Starbucks in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $93.71.
In other Starbucks news, EVP Lucy Lee Helm sold 18,982 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $88.49, for a total transaction of $1,679,717.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $86.47, for a total transaction of $172,940.00. The disclosure for this sale can be found here. Insiders have sold 25,234 shares of company stock worth $2,227,343 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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