Norway Savings Bank Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Norway Savings Bank decreased its position in Starbucks Co. (NASDAQ:SBUX) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,138 shares of the coffee company’s stock after selling 195 shares during the period. Norway Savings Bank’s holdings in Starbucks were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the second quarter worth about $25,000. Fairfield Financial Advisors LTD purchased a new position in Starbucks during the 2nd quarter worth approximately $41,000. DT Investment Partners LLC lifted its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the 3rd quarter valued at $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks in the third quarter worth $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBUX. Wedbush decreased their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Performance

Shares of SBUX stock traded down $0.09 during trading hours on Tuesday, reaching $93.04. The company had a trading volume of 3,884,886 shares, compared to its average volume of 6,522,918. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The company has a market capitalization of $105.49 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 2.86 and a beta of 0.99. The stock has a fifty day moving average of $96.55 and a 200-day moving average of $90.77.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company earned $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.62%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

About Starbucks

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.