Robertson Stephens Wealth Management LLC Sells 6,407 Shares of Starbucks Co. (NASDAQ:SBUX)

Robertson Stephens Wealth Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 33.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,945 shares of the coffee company’s stock after selling 6,407 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Starbucks were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SBUX. Brookstone Capital Management boosted its position in shares of Starbucks by 4.3% in the third quarter. Brookstone Capital Management now owns 29,658 shares of the coffee company’s stock worth $2,891,000 after purchasing an additional 1,232 shares during the period. Somerset Trust Co boosted its position in shares of Starbucks by 5.1% during the third quarter. Somerset Trust Co now owns 4,933 shares of the coffee company’s stock worth $481,000 after acquiring an additional 240 shares during the last quarter. Morton Capital Management LLC CA bought a new position in shares of Starbucks during the third quarter worth $270,000. SS&H Financial Advisors Inc. bought a new position in shares of Starbucks during the third quarter worth $209,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Starbucks by 6.7% during the third quarter. Pinnacle Bancorp Inc. now owns 6,013 shares of the coffee company’s stock worth $586,000 after acquiring an additional 380 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.5 %

Shares of NASDAQ:SBUX opened at $111.70 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $112.42. The stock has a market cap of $126.88 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The business’s 50 day moving average is $96.73 and its 200 day moving average is $94.20.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.18%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBUX. Citigroup upped 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. 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. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, 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 at the SEC website. 0.09% of the stock is owned by company 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.