Magnus Financial Group LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Magnus Financial Group LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 63.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,103 shares of the coffee company’s stock after purchasing an additional 3,142 shares during the period. Magnus Financial Group LLC’s holdings in Starbucks were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SBUX. Legacy Capital Wealth Partners LLC increased its holdings in Starbucks by 6.5% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock valued at $276,000 after purchasing an additional 175 shares during the last quarter. Stonebrook Private Inc. purchased a new position in shares of Starbucks during the fourth quarter worth $722,000. Principle Wealth Partners LLC grew its stake in shares of Starbucks by 5.1% in the fourth quarter. Principle Wealth Partners LLC now owns 12,752 shares of the coffee company’s stock valued at $1,224,000 after buying an additional 615 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $891,000. Finally, Intact Investment Management Inc. lifted its stake in Starbucks by 81.4% during the 4th quarter. Intact Investment Management Inc. now owns 74,000 shares of the coffee company’s stock worth $7,105,000 after acquiring an additional 33,200 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.3 %

Shares of NASDAQ:SBUX opened at $88.48 on Monday. The firm has a 50 day simple moving average of $90.36 and a 200-day simple moving average of $94.30. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a market capitalization of $100.18 billion, a PE ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Analyst Ratings Changes

SBUX has been the subject of several research reports. Robert W. Baird dropped their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. TD Cowen reiterated a “hold” rating and set a $100.00 target price on shares of Starbucks in a report on Thursday, April 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus reduced their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.55.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is currently owned by company insiders.

About Starbucks

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.