Threadgill Financial LLC Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Threadgill Financial LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,045 shares of the coffee company’s stock after selling 3,666 shares during the period. Starbucks makes up approximately 1.4% of Threadgill Financial LLC’s holdings, making the stock its 16th largest holding. Threadgill Financial LLC’s holdings in Starbucks were worth $2,559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the second quarter worth $25,000. Fairfield Financial Advisors LTD bought a new stake in shares of Starbucks in the 2nd quarter valued at about $41,000. DT Investment Partners LLC boosted its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC bought a new position in Starbucks during the 3rd quarter worth approximately $49,000. Finally, Friedenthal Financial bought a new stake in Starbucks in the third quarter valued at approximately $50,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.4 %

NASDAQ SBUX opened at $92.25 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock’s fifty day moving average price is $96.13 and its 200-day moving average price is $91.13. The stock has a market cap of $104.59 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.64%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analysts Set New Price Targets

SBUX has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, eight 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.77.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This 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 available at the SEC website. 1.98% of the stock is owned by corporate insiders.

About Starbucks

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.