Invesco LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Invesco LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,060 shares of the coffee company’s stock after selling 270 shares during the quarter. Invesco LLC’s holdings in Starbucks were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the second quarter worth about $25,000. DT Investment Partners LLC lifted its position in 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 period. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter worth about $49,000. Friedenthal Financial acquired a new position in Starbucks in the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 5.6 %

Shares of Starbucks stock traded up $5.63 during trading on Wednesday, reaching $106.04. The company’s stock had a trading volume of 7,480,676 shares, compared to its average volume of 7,534,067. The business has a 50 day moving average price of $95.70 and a 200-day moving average price of $92.89. The company has a market capitalization of $120.23 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.23.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter in the previous year, the firm posted $0.90 EPS. Research analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.30%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SBUX shares. Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.32.

Read Our Latest Stock Report on SBUX

Starbucks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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