HB Wealth Management LLC Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

HB Wealth Management LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,081 shares of the coffee company’s stock after selling 349 shares during the period. HB Wealth Management LLC’s holdings in Starbucks were worth $3,475,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter worth $25,000. DT Investment Partners LLC increased its holdings in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial purchased a new stake in Starbucks during the third quarter valued at about $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks during the third quarter worth about $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $95.13 on Monday. The stock’s 50 day simple moving average is $95.84 and its 200 day simple moving average is $91.60. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 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 issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the business earned $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced 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 of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. 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. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

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.