Viking Fund Management LLC Sells 20,000 Shares of Starbucks Co. (NASDAQ:SBUX)

Viking Fund Management LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,000 shares of the coffee company’s stock after selling 20,000 shares during the period. Starbucks comprises approximately 1.2% of Viking Fund Management LLC’s investment portfolio, making the stock its 29th biggest holding. Viking Fund Management LLC’s holdings in Starbucks were worth $7,756,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dakota Wealth Management raised its holdings in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. increased its holdings in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares during the period. Maia Wealth LLC raised its stake in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its holdings in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario boosted its position in Starbucks by 48.6% during 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 in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks 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 sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Morgan Stanley lifted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, Bank of America cut their price target 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.92.

Starbucks Stock Performance

Shares of SBUX opened at $97.98 on Wednesday. The business’s 50-day moving average is $95.72 and its two-hundred day moving average is $92.00. The company has a market capitalization of $111.09 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.82 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting 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 analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. 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.