Baldwin Wealth Partners LLC MA Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Baldwin Wealth Partners LLC MA decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,487 shares of the coffee company’s stock after selling 1,856 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Starbucks were worth $227,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBUX shares. JPMorgan Chase & Co. lifted their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $104.08.

Starbucks Price Performance

NASDAQ:SBUX opened at $100.02 on Tuesday. The firm’s 50-day moving average price is $95.66 and its 200-day moving average price is $92.53. The company has a market capitalization of $113.40 billion, a PE ratio of 30.22, a P/E/G ratio of 2.91 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 announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction 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 directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.