Matrix Asset Advisors Inc. NY Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Matrix Asset Advisors Inc. NY cut its stake in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 206,469 shares of the coffee company’s stock after selling 3,486 shares during the quarter. Starbucks comprises about 2.1% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 18th largest position. Matrix Asset Advisors Inc. NY’s holdings in Starbucks were worth $18,840,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC grew its stake in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP increased its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.2 %

NASDAQ:SBUX opened at $100.02 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a 50-day moving average price of $95.66 and a 200-day moving average price of $92.53. The stock has a market cap of $113.40 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for 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 business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 EPS. Equities analysts forecast that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated 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 owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. BTIG Research lifted their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Bank of America decreased 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. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.08.

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.