Eagle Bay Advisors LLC Sells 177 Shares of Starbucks Co. (NASDAQ:SBUX)

Eagle Bay Advisors LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,471 shares of the coffee company’s stock after selling 177 shares during the period. Eagle Bay Advisors LLC’s holdings in Starbucks were worth $134,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dakota Wealth Management raised its position in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its position in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the last quarter. Maia Wealth LLC raised its position in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC raised its position in 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 purchasing an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. 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 report on Monday, September 30th. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Three equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Down 0.5 %

Starbucks stock traded down $0.43 during midday trading on Monday, hitting $91.82. 2,964,479 shares of the stock were exchanged, compared to its average volume of 6,349,931. The stock has a market capitalization of $104.11 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.86 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 business’s 50-day moving average price is $96.13 and its 200-day moving average price is $91.13.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.66%. Starbucks’s dividend payout ratio is presently 73.72%.

Starbucks Company Profile

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.