GAMMA Investing LLC Has $1.54 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

GAMMA Investing LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,888 shares of the coffee company’s stock after purchasing an additional 1,783 shares during the period. GAMMA Investing LLC’s holdings in Starbucks were worth $1,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its position in Starbucks by 6.4% in the 2nd quarter. Foundations Investment Advisors LLC now owns 19,698 shares of the coffee company’s stock valued at $1,534,000 after purchasing an additional 1,183 shares during the period. SouthState Corp increased its position in shares of Starbucks by 131.7% during the second quarter. SouthState Corp now owns 8,715 shares of the coffee company’s stock worth $678,000 after acquiring an additional 4,954 shares in the last quarter. Bordeaux Wealth Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter worth about $1,729,000. Columbia Asset Management lifted its position in Starbucks by 4.2% in the 2nd quarter. Columbia Asset Management now owns 93,907 shares of the coffee company’s stock valued at $7,311,000 after acquiring an additional 3,763 shares in the last quarter. Finally, Hendershot Investments Inc. increased its holdings in Starbucks by 0.3% during the 2nd quarter. Hendershot Investments Inc. now owns 127,632 shares of the coffee company’s stock worth $9,936,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SBUX shares. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $92.58 on Friday. The business’s fifty day moving average is $96.74 and its 200 day moving average is $90.45. The firm has a market cap of $104.97 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 2.86 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities analysts predict that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

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.