Means Investment CO. Inc. Sells 621 Shares of Starbucks Co. (NASDAQ:SBUX)

Means Investment CO. Inc. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,836 shares of the coffee company’s stock after selling 621 shares during the period. Means Investment CO. Inc.’s holdings in Starbucks were worth $2,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Czech National Bank increased its position in Starbucks by 6.9% during the third quarter. Czech National Bank now owns 230,845 shares of the coffee company’s stock valued at $22,505,000 after acquiring an additional 14,999 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Starbucks by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 15,105 shares of the coffee company’s stock worth $1,473,000 after purchasing an additional 2,417 shares during the period. Everpar Advisors LLC boosted its holdings in shares of Starbucks by 10.9% in the third quarter. Everpar Advisors LLC now owns 5,014 shares of the coffee company’s stock worth $489,000 after buying an additional 494 shares during the last quarter. Smith Anglin Financial LLC grew its position in Starbucks by 7.4% during the third quarter. Smith Anglin Financial LLC now owns 2,772 shares of the coffee company’s stock valued at $270,000 after buying an additional 190 shares during the period. Finally, Chemistry Wealth Management LLC increased its holdings in Starbucks by 2.3% during the third quarter. Chemistry Wealth Management LLC now owns 8,901 shares of the coffee company’s stock valued at $868,000 after buying an additional 198 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Wells Fargo & Company boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Citigroup raised their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

Shares of Starbucks stock opened at $107.68 on Monday. The stock has a 50 day moving average price of $96.19 and a 200-day moving average price of $93.48. Starbucks Co. has a one year low of $71.55 and a one year high of $110.34. The stock has a market cap of $122.31 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company earned $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Starbucks Company 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.