Cornell Pochily Investment Advisors Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Cornell Pochily Investment Advisors Inc. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,213 shares of the coffee company’s stock after selling 881 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Starbucks were worth $841,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dakota Wealth Management grew its stake in Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. grew its position in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC increased 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 valued at $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC lifted its position in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its position 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 currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.8 %

Shares of SBUX stock opened at $98.81 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a 50 day moving average of $95.66 and a two-hundred day moving average of $92.53. The stock has a market capitalization of $112.03 billion, a PE ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. Analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company 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 yield of 2.47%. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBUX. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Barclays reduced their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of 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 represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by company 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.