Starbucks Co. (NASDAQ:SBUX) Shares Sold by CarsonAllaria Wealth Management Ltd.

CarsonAllaria Wealth Management Ltd. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,086 shares of the coffee company’s stock after selling 130 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Starbucks were worth $99,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC grew its stake in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Starbucks in the third quarter valued at approximately $126,574,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Starbucks Stock Up 2.3 %

Shares of Starbucks stock opened at $110.60 on Wednesday. The firm has a market capitalization of $125.63 billion, a P/E ratio of 35.68, a P/E/G ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $111.07. The firm’s 50 day moving average is $96.31 and its two-hundred day moving average is $93.85.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared 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. This represents a $2.44 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. UBS Group boosted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

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.