Lazari Capital Management Inc. Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Lazari Capital Management Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,098 shares of the coffee company’s stock after selling 894 shares during the period. Lazari Capital Management Inc.’s holdings in Starbucks were worth $1,560,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks during the third quarter worth $49,000. Friedenthal Financial acquired a new position in Starbucks during the third quarter worth $50,000. Capital Performance Advisors LLP acquired a new position in Starbucks during the third quarter worth $71,000. Finally, Prestige Wealth Management Group LLC grew its holdings in Starbucks by 61.0% during the third quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company’s stock worth $71,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $107.68 on Monday. The firm has a market capitalization of $122.31 billion, a PE ratio of 34.74, a P/E/G ratio of 3.40 and a beta of 1.00. The business has a 50-day moving average of $96.19 and a two-hundred day moving average of $93.61. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.34.

Starbucks (NASDAQ:SBUX) last announced 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 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. As a group, research analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Insider Activity

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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SBUX shares. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Company 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.