Cascade Investment Advisors Inc. Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cascade Investment Advisors Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,650 shares of the coffee company’s stock after selling 140 shares during the period. Starbucks comprises approximately 1.1% of Cascade Investment Advisors Inc.’s holdings, making the stock its 27th biggest holding. Cascade Investment Advisors Inc.’s holdings in Starbucks were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SBUX. Riverview Trust Co increased its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares in the last quarter. Essex Savings Bank increased its holdings in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. Virtue Capital Management LLC raised its position in Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after purchasing an additional 115 shares during the period. Red Door Wealth Management LLC lifted its stake in shares of Starbucks by 2.4% during the fourth quarter. Red Door Wealth Management LLC now owns 4,985 shares of the coffee company’s stock worth $455,000 after purchasing an additional 118 shares in the last quarter. Finally, DT Investment Partners LLC boosted its position in shares of 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. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.2 %

NASDAQ:SBUX opened at $100.02 on Tuesday. The stock has a fifty day simple moving average of $95.66 and a 200 day simple moving average of $92.53. The firm has a market capitalization of $113.40 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. Equities analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

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

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBUX shares. Bank of America decreased their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.08.

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.