Smith Chas P & Associates PA Cpas Has $611,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Smith Chas P & Associates PA Cpas cut its stake in Starbucks Co. (NASDAQ:SBUX) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,698 shares of the coffee company’s stock after selling 710 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Starbucks were worth $611,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC increased its holdings in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after acquiring an additional 327,734 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by insiders.

Starbucks Trading Up 0.8 %

Shares of NASDAQ:SBUX opened at $98.81 on Friday. The stock has a 50 day moving average of $95.66 and a 200 day moving average of $92.25. The company has a market cap of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month 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 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 company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared 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. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SBUX shares. Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Barclays cut their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks 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.