Matrix Trust Co Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Matrix Trust Co increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 605.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,065 shares of the coffee company’s stock after purchasing an additional 914 shares during the period. Matrix Trust Co’s holdings in Starbucks were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. boosted its stake in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its stake in shares of Starbucks by 69.1% in the 3rd 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. Aljian Capital Management LLC raised its holdings in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario boosted its position 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 in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.4 %

NASDAQ:SBUX opened at $93.51 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock’s fifty day moving average is $96.06 and its two-hundred day moving average is $91.24. The stock has a market capitalization of $106.02 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

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.