AAFMAA Wealth Management & Trust LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

AAFMAA Wealth Management & Trust LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 19.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,753 shares of the coffee company’s stock after selling 3,849 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Starbucks were worth $1,437,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the second quarter valued at approximately $25,000. Fairfield Financial Advisors LTD purchased a new position in Starbucks in the 2nd quarter valued at $41,000. DT Investment Partners LLC boosted its stake in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Starbucks during the third quarter worth $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks in the third quarter valued at about $50,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays cut their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Royal Bank of Canada began coverage on Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Wedbush dropped their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $93.51 on Tuesday. The stock’s 50-day moving average is $96.06 and its two-hundred day moving average is $91.24. The company has a market cap of $106.02 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. Starbucks’s payout ratio is currently 73.72%.

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.