By otakuyassine3@gmail.com 
Addenda Capital Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,032 shares of the coffee company’s stock after selling 224 shares during the period. Addenda Capital Inc.’s holdings in Starbucks were worth $7,214,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in SBUX. Bridges Investment Management Inc. boosted its stake in shares of Starbucks by 21.0% during the second quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after purchasing an additional 747 shares in the last quarter. AE Wealth Management LLC boosted its stake in Starbucks by 42.1% in the second quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after acquiring an additional 6,841 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Starbucks by 0.9% in the second quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock valued at $10,442,000 after acquiring an additional 1,182 shares in the last quarter. Holderness Investments Co. boosted its stake in Starbucks by 8.1% in the second quarter. Holderness Investments Co. now owns 3,748 shares of the coffee company’s stock valued at $292,000 after acquiring an additional 280 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in Starbucks by 8,935.9% in the second quarter. Frank Rimerman Advisors LLC now owns 14,096 shares of the coffee company’s stock valued at $1,097,000 after acquiring an additional 13,940 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.
Starbucks Price Performance
Shares of NASDAQ:SBUX opened at $95.13 on Tuesday. The business’s 50 day moving average price is $95.84 and its 200-day moving average price is $91.71. The firm has a market capitalization of $107.86 billion, a PE ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the business posted $1.06 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.1 earnings per share for the current year.
Starbucks Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.56%. Starbucks’s payout ratio is presently 73.72%.
Analyst Ratings Changes
Several brokerages have weighed in on SBUX. Wells Fargo & Company raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Barclays decreased their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.
Read Our Latest Stock Report on SBUX
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.
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