Starbucks Co. (NASDAQ:SBUX) Stock Holdings Trimmed by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 679,814 shares of the coffee company’s stock after selling 8,735 shares during the quarter. Confluence Investment Management LLC’s holdings in Starbucks were worth $62,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SBUX. Dakota Wealth Management raised its stake in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. raised its position 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 lifted 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 worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC boosted its position in Starbucks by 48.5% during the 3rd 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 grew its stake in Starbucks by 48.6% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SBUX. UBS Group raised their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Trading Up 1.3 %

Shares of Starbucks stock traded up $1.19 on Thursday, reaching $92.44. 1,713,665 shares of the company were exchanged, compared to its average volume of 10,802,064. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market capitalization of $104.81 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. The stock has a fifty day moving average price of $96.84 and a 200-day moving average price of $90.44.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 analysts’ expectations of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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. This represents a $2.44 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

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.