Drive Wealth Management LLC Sells 190 Shares of Starbucks Co. (NASDAQ:SBUX)

Drive Wealth Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,195 shares of the coffee company’s stock after selling 190 shares during the period. Drive Wealth Management LLC’s holdings in Starbucks were worth $930,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Annandale Capital LLC boosted its holdings in shares of Starbucks by 60.9% in the 2nd quarter. Annandale Capital LLC now owns 9,775 shares of the coffee company’s stock worth $761,000 after purchasing an additional 3,700 shares in the last quarter. Clearline Capital LP purchased a new position in shares of Starbucks in the second quarter valued at about $1,635,000. Magnolia Capital Advisors LLC bought a new position in Starbucks during the 2nd quarter valued at approximately $1,383,000. Nemes Rush Group LLC raised its holdings in shares of Starbucks by 6.4% during the second quarter. Nemes Rush Group LLC now owns 22,408 shares of the coffee company’s stock valued at $1,744,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Silver Lake Advisory LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $232,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

NASDAQ SBUX opened at $98.81 on Monday. The firm has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company has a fifty day moving average of $95.66 and a two-hundred day moving average of $92.39.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday. Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by 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.