Starbucks Co. (NASDAQ:SBUX) Stock Holdings Cut by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,589 shares of the coffee company’s stock after selling 5,260 shares during the period. Burns J W & Co. Inc. NY’s holdings in Starbucks were worth $5,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SBUX. Bar Harbor Wealth Management boosted its stake in Starbucks by 5.7% in the 4th quarter. Bar Harbor Wealth Management now owns 31,892 shares of the coffee company’s stock worth $2,910,000 after purchasing an additional 1,733 shares during the period. Persium Advisors LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $572,000. Abound Wealth Management increased its stake in Starbucks by 25.2% in the 4th quarter. Abound Wealth Management now owns 775 shares of the coffee company’s stock valued at $71,000 after buying an additional 156 shares during the period. Wedmont Private Capital lifted its position in Starbucks by 1.6% in the 4th quarter. Wedmont Private Capital now owns 13,512 shares of the coffee company’s stock worth $1,246,000 after buying an additional 212 shares in the last quarter. Finally, Fragasso Financial Advisors Inc grew its holdings in shares of Starbucks by 5.5% during the 4th quarter. Fragasso Financial Advisors Inc now owns 10,706 shares of the coffee company’s stock valued at $977,000 after acquiring an additional 555 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.26 on Monday, hitting $93.51. 6,902,450 shares of the stock were exchanged, compared to its average volume of 6,957,639. The stock has a market capitalization of $106.02 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company’s 50-day moving average price is $96.13 and its 200 day moving average price is $91.13.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company 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 firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the 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 completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.

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.