Starbucks Co. (NASDAQ:SBUX) Shares Sold by Westside Investment Management Inc.

Westside Investment Management Inc. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 12,148 shares of the coffee company’s stock after selling 560 shares during the period. Westside Investment Management Inc.’s holdings in Starbucks were worth $1,109,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter worth $25,000. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial bought a new stake in shares of Starbucks during the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks during the third quarter worth about $71,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $97.79 on Wednesday. The company has a market capitalization of $110.88 billion, a P/E ratio of 29.54, a PEG ratio of 2.82 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company’s 50 day simple moving average is $95.72 and its 200 day simple moving average is $92.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, analysts anticipate that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SBUX shares. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.