Starbucks Co. (NASDAQ:SBUX) Shares Sold by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,063 shares of the coffee company’s stock after selling 275 shares during the quarter. Starbucks comprises about 1.5% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Stonebridge Capital Management Inc.’s holdings in Starbucks were worth $3,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dakota Wealth Management grew its stake in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. grew its stake in Starbucks by 31.2% in the 3rd 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 grew its stake in 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 acquiring an additional 7,596 shares during the last quarter. Aljian Capital Management LLC grew its stake in 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 acquiring an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SBUX. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $93.08 on Thursday. The stock has a market capitalization of $105.53 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock’s fifty day moving average is $95.98 and its two-hundred day moving average is $91.34.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. As a group, analysts predict that Starbucks Co. will post 3.1 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. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks Company 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.