McKinley Carter Wealth Services Inc. Sells 2,046 Shares of Starbucks Co. (NASDAQ:SBUX)

McKinley Carter Wealth Services Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,382 shares of the coffee company’s stock after selling 2,046 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Starbucks were worth $2,499,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. DT Investment Partners LLC lifted its holdings in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in Starbucks during the 3rd quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the 3rd quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SBUX. BTIG Research upped their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Starbucks Stock Performance

SBUX stock opened at $100.46 on Wednesday. The company has a market cap of $113.90 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 2.91 and a beta of 0.99. The business’s 50-day moving average is $95.70 and its two-hundred day moving average is $92.89. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the previous year, the firm posted $0.90 EPS. Equities analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.98% of the stock is 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.