Starbucks Co. (NASDAQ:SBUX) Shares Sold by Graypoint LLC

Graypoint LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,708 shares of the coffee company’s stock after selling 746 shares during the quarter. Graypoint LLC’s holdings in Starbucks were worth $703,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC increased its stake in 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 last quarter. FSA Wealth Management LLC acquired a new position in Starbucks in the third quarter valued at $49,000. Friedenthal Financial acquired a new position in Starbucks in the third quarter valued at $50,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Starbucks in the second quarter valued at $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.4 %

Shares of NASDAQ SBUX opened at $92.25 on Friday. The stock’s 50 day moving average price is $96.13 and its two-hundred day moving average price is $90.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock has a market capitalization of $104.59 billion, a P/E ratio of 27.87, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. Barclays dropped their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by insiders.

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.