Bleakley Financial Group LLC Has $1.51 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bleakley Financial Group LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,549 shares of the coffee company’s stock after purchasing an additional 552 shares during the quarter. Bleakley Financial Group LLC’s holdings in Starbucks were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Dakota Wealth Management increased its holdings in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. increased its stake in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC raised its position in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Finally, Aljian Capital Management LLC boosted its holdings in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Barclays upped their price objective 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 raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Up 0.4 %

Shares of NASDAQ SBUX opened at $112.20 on Friday. The company has a market capitalization of $127.45 billion, a PE ratio of 36.19, a P/E/G ratio of 3.40 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.62. The firm has a fifty day simple moving average of $96.93 and a 200 day simple moving average of $94.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% 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.