Manchester Capital Management LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Manchester Capital Management LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,065 shares of the coffee company’s stock after selling 94 shares during the period. Manchester Capital Management LLC’s holdings in Starbucks were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 in the last quarter. FMR LLC raised its holdings in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after acquiring an additional 327,734 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given 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.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

Shares of SBUX opened at $112.55 on Friday. The business has a fifty day moving average of $98.03 and a 200 day moving average of $95.61. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The firm has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 quarter last year, the firm earned $0.90 earnings per share. Analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $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 is available through this link. 0.09% of the stock is currently owned by company insiders.

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.