Thrive Wealth Management LLC Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Thrive Wealth Management LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,861 shares of the coffee company’s stock after selling 375 shares during the period. Thrive Wealth Management LLC’s holdings in Starbucks were worth $352,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% during 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 purchased a new position in shares of Starbucks during the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks during the third quarter valued at approximately $71,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.7 %

SBUX opened at $95.13 on Monday. The firm has a 50-day simple moving average of $95.84 and a two-hundred day simple moving average of $91.60. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company has a market capitalization of $107.86 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is 73.72%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. Bank of America decreased their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $103.92.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.