Starbucks Co. (NASDAQ:SBUX) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,005 shares of the coffee company’s stock after selling 554 shares during the period. D.B. Root & Company LLC’s holdings in Starbucks were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dakota Wealth Management increased its holdings in shares of Starbucks by 0.5% in the third 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 during the period. Weil Company Inc. grew its position 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 buying an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its position 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 buying an additional 7,596 shares during the last quarter. Aljian Capital Management LLC increased 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 buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario lifted its stake in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 target price on the stock. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, UBS Group raised their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents 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 Trading Down 0.3 %

Starbucks stock opened at $97.73 on Thursday. The stock has a market cap of $110.81 billion, a PE ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The stock has a 50-day moving average price of $95.68 and a 200 day moving average price of $92.04. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted 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. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Announces Dividend

The firm 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

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.