RNC Capital Management LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

RNC Capital Management LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,590 shares of the coffee company’s stock after selling 3,692 shares during the quarter. RNC Capital Management LLC’s holdings in Starbucks were worth $2,700,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Starbucks during the 4th quarter valued at about $62,000. Rik Saylor Financial Inc. purchased a new position in Starbucks during the 4th quarter valued at about $347,000. Klein Pavlis & Peasley Financial Inc. grew its holdings in Starbucks by 20.5% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 35,606 shares of the coffee company’s stock valued at $3,249,000 after buying an additional 6,056 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in Starbucks by 54.7% during the 4th quarter. Silver Oak Securities Incorporated now owns 4,509 shares of the coffee company’s stock valued at $408,000 after buying an additional 1,594 shares in the last quarter. Finally, Etesian Wealth Advisors Inc. purchased a new position in Starbucks during the 4th quarter valued at about $236,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBUX shares. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Down 0.5 %

Shares of SBUX opened at $111.70 on Friday. The business has a 50-day simple moving average of $96.73 and a two-hundred day simple moving average of $94.20. The stock has a market cap of $126.88 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $112.42.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 in the previous year, the company earned $0.90 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 2.18%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

Insider Buying and Selling at Starbucks

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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

About Starbucks

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.