Starbucks Co. (NASDAQ:SBUX) Stake Reduced by Simon Quick Advisors LLC

Simon Quick Advisors LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 7.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,347 shares of the coffee company’s stock after selling 364 shares during the quarter. Simon Quick Advisors LLC’s holdings in Starbucks were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beaumont Financial Advisors LLC grew its holdings in Starbucks by 9.8% in the 4th quarter. Beaumont Financial Advisors LLC now owns 4,672 shares of the coffee company’s stock worth $426,000 after buying an additional 417 shares in the last quarter. MCF Advisors LLC boosted its position in Starbucks by 20.0% during the 4th quarter. MCF Advisors LLC now owns 1,839 shares of the coffee company’s stock worth $168,000 after acquiring an additional 307 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Starbucks by 0.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,140,119 shares of the coffee company’s stock worth $104,036,000 after purchasing an additional 3,132 shares in the last quarter. JBGlobal.com LLC bought a new stake in shares of Starbucks during the fourth quarter valued at about $329,000. Finally, Atomi Financial Group Inc. raised its stake in shares of Starbucks by 13.3% during the fourth quarter. Atomi Financial Group Inc. now owns 14,861 shares of the coffee company’s stock valued at $1,356,000 after purchasing an additional 1,741 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $97.99 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business’s 50-day moving average price is $95.68 and its two-hundred day moving average price is $92.04. The company has a market capitalization of $111.10 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Dividend Announcement

The business 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 is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley boosted their price target 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. Stifel Nicolaus boosted 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. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Wedbush dropped their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.