Rogco LP Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Rogco LP trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,284 shares of the coffee company’s stock after selling 110 shares during the quarter. Rogco LP’s holdings in Starbucks were worth $847,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kuhn & Co Investment Counsel raised its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after acquiring an additional 96 shares during the last quarter. Jmac Enterprises LLC increased its holdings in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares during the period. Aspire Capital Advisors LLC lifted its holdings in shares of Starbucks by 0.5% during 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. Optas LLC grew its position in Starbucks by 0.6% in the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after buying an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its stake in Starbucks by 0.7% in the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly 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 document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Starbucks Price Performance

SBUX opened at $112.55 on Monday. The stock has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.47. The business has a 50-day moving average of $98.28 and a two-hundred day moving average of $96.01.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $0.90 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 78.71%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBUX shares. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target 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.