TigerOak Management L.L.C. Takes Position in Starbucks Co. (NASDAQ:SBUX)

TigerOak Management L.L.C. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,293 shares of the coffee company’s stock, valued at approximately $665,000.

Several other large investors have also modified their holdings of SBUX. Cornerstone Wealth Management LLC lifted its stake in Starbucks by 4.7% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock worth $553,000 after acquiring an additional 252 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Starbucks during the 3rd quarter worth about $230,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Starbucks by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock worth $12,405,000 after acquiring an additional 5,534 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in Starbucks during the 3rd quarter worth about $226,000. Finally, Claro Advisors LLC lifted its stake in Starbucks by 35.8% during the 3rd quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock worth $1,653,000 after acquiring an additional 4,474 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.4 %

Shares of SBUX stock opened at $112.55 on Friday. The business’s 50 day moving average is $98.28 and its two-hundred day moving average is $95.87. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $113.47. The company has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 in the prior year, the company posted $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 3 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, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SBUX. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.