Core Alternative Capital Sells 7,622 Shares of Starbucks Co. (NASDAQ:SBUX)

Core Alternative Capital lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,550 shares of the coffee company’s stock after selling 7,622 shares during the quarter. Core Alternative Capital’s holdings in Starbucks were worth $1,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Aspire Capital Advisors LLC boosted its position in shares of Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after purchasing an additional 104 shares during the period. Riverview Trust Co boosted 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 purchasing an additional 105 shares during the period. Optas LLC boosted its position in shares of Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares during the period. Boomfish Wealth Group LLC boosted its position in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares during the period. Finally, Foster Group Inc. boosted its position in shares of Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock worth $263,000 after purchasing an additional 110 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Down 0.7 %

Shares of SBUX opened at $111.45 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.62. The company has a market cap of $126.60 billion, a P/E ratio of 35.95, a P/E/G ratio of 3.52 and a beta of 1.00. The company’s fifty day simple moving average is $97.12 and its 200-day simple moving average is $94.84.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm posted $0.90 EPS. Analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

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.