Essex Financial Services Inc. Sells 1,485 Shares of Starbucks Co. (NASDAQ:SBUX)

Essex Financial Services Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,315 shares of the coffee company’s stock after selling 1,485 shares during the quarter. Essex Financial Services Inc.’s holdings in Starbucks were worth $941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aspire Capital Advisors LLC lifted its holdings in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares during the last quarter. Riverview Trust Co raised its stake 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 valued at $312,000 after acquiring an additional 105 shares during the last quarter. Optas LLC raised its stake in shares of Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the last quarter. Boomfish Wealth Group LLC grew its position in Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after acquiring an additional 108 shares during the last quarter. Finally, Foster Group Inc. increased its holdings in Starbucks by 4.0% during the 4th quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.4 %

NASDAQ:SBUX opened at $111.03 on Wednesday. The stock has a market cap of $126.12 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.52 and a beta of 1.00. The stock has a 50-day moving average price of $97.32 and a two-hundred day moving average price of $95.10. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.62.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 last year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s payout ratio is 78.71%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s 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 sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBUX shares. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price 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. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.