Sachetta LLC Has $367,000 Position in Starbucks Co. (NASDAQ:SBUX)

Sachetta LLC lessened its stake in Starbucks Co. (NASDAQ:SBUXFree Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,023 shares of the coffee company’s stock after selling 311 shares during the quarter. Sachetta LLC’s holdings in Starbucks were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management lifted its stake in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. lifted its stake in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its holdings in shares of Starbucks by 69.1% in the third 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 increased its position 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 acquiring an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario boosted its holdings in shares of 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 purchasing an additional 12,300 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday. Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Check Out Our Latest Analysis on Starbucks

Starbucks Stock Up 0.8 %

NASDAQ:SBUX opened at $98.81 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm’s 50 day moving average is $95.65 and its two-hundred day moving average is $92.08. The company has a market cap of $112.03 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts forecast that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared 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 of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Profile

(Free Report)

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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