Magnus Financial Group LLC Sells 313 Shares of Starbucks Co. (NASDAQ:SBUX)

Magnus Financial Group LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,418 shares of the coffee company’s stock after selling 313 shares during the quarter. Magnus Financial Group LLC’s holdings in Starbucks were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the second quarter valued at about $25,000. DT Investment Partners LLC increased its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new position in Starbucks during the 3rd quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in Starbucks in the 3rd quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX stock opened at $97.73 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market capitalization of $110.81 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The business has a fifty day moving average price of $95.72 and a 200-day moving average price of $92.00.

Starbucks (NASDAQ:SBUX) last posted its 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 business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. As a group, analysts anticipate that Starbucks Co. will post 3.09 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America decreased their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Barclays cut their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.92.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.98% of the company’s stock.

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.