Starbucks Co. (NASDAQ:SBUX) Shares Sold by Choreo LLC

Choreo LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,034 shares of the coffee company’s stock after selling 9,620 shares during the period. Choreo LLC’s holdings in Starbucks were worth $4,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SBUX. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at $25,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial purchased a new position in Starbucks during the 3rd quarter worth approximately $50,000. Finally, Hager Investment Management Services LLC acquired a new position in Starbucks during the fourth quarter worth approximately $56,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In related 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 value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Bank of America dropped their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Up 1.5 %

Shares of Starbucks stock opened at $112.25 on Thursday. The company has a 50-day moving average of $96.51 and a two-hundred day moving average of $94.07. The stock has a market cap of $127.50 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.42.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio 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.