By otakuyassine3@gmail.com 
CENTRAL TRUST Co cut its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,679 shares of the coffee company’s stock after selling 9,024 shares during the quarter. CENTRAL TRUST Co’s holdings in Starbucks were worth $4,716,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its stake in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. grew its stake in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC increased its holdings in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario boosted its holdings in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.
Check Out Our Latest Stock Report on SBUX
Starbucks Trading Down 1.2 %
NASDAQ:SBUX opened at $107.68 on Friday. The firm has a market capitalization of $122.31 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 3.47 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $110.34. The stock has a 50 day moving average of $96.19 and a 200-day moving average of $93.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same quarter last year, the company earned $0.90 earnings per share. As a group, analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.
Starbucks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 78.71%.
Insider Activity at Starbucks
In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by 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.
Further Reading
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