Starbucks Co. (NASDAQ:SBUX) Position Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 401,473 shares of the coffee company’s stock after selling 24,260 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Starbucks were worth $36,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SBUX. Dakota Wealth Management grew its position in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the last quarter. Weil Company Inc. boosted its stake in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC increased its stake in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC raised its holdings in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $97.98 on Wednesday. The firm’s 50 day moving average price is $95.74 and its two-hundred day moving average price is $91.84. The stock has a market cap of $111.09 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.82 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company 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, research analysts forecast that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wedbush cut their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays decreased their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Royal Bank of Canada started coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.