Brady Family Wealth LLC Sells 1,546 Shares of Starbucks Co. (NASDAQ:SBUX)

Brady Family Wealth LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 49,108 shares of the coffee company’s stock after selling 1,546 shares during the quarter. Starbucks makes up about 1.4% of Brady Family Wealth LLC’s investment portfolio, making the stock its 25th biggest position. Brady Family Wealth LLC’s holdings in Starbucks were worth $4,481,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Starbucks by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock worth $206,279,000 after purchasing an additional 207,156 shares in the last quarter. Pekin Hardy Strauss Inc. increased its stake in Starbucks by 16.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 9,848 shares of the coffee company’s stock valued at $767,000 after purchasing an additional 1,358 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Starbucks by 97.5% in the second quarter. Axxcess Wealth Management LLC now owns 27,330 shares of the coffee company’s stock worth $2,128,000 after buying an additional 13,495 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Starbucks by 1.8% during the second quarter. E Fund Management Co. Ltd. now owns 11,347 shares of the coffee company’s stock worth $883,000 after buying an additional 204 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Starbucks by 4.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 41,194 shares of the coffee company’s stock valued at $3,207,000 after buying an additional 1,675 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Barclays reduced their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $93.08 on Thursday. The firm has a market capitalization of $105.53 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. The business’s 50 day moving average price is $95.98 and its 200-day moving average price is $91.34. Starbucks Co. has a 1 year low of $71.55 and a 1 year 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 (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 business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the firm posted $1.06 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks’s payout ratio is currently 73.72%.

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.