Starbucks Co. (NASDAQ:SBUX) Position Reduced by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 62.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,300 shares of the coffee company’s stock after selling 201,800 shares during the period. Factory Mutual Insurance Co.’s holdings in Starbucks were worth $11,069,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aspire Capital Advisors LLC increased its holdings in shares of Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after buying an additional 104 shares in the last quarter. Riverview Trust Co increased its holdings in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares in the last quarter. Boomfish Wealth Group LLC increased its holdings in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after buying an additional 108 shares in the last quarter. Foster Group Inc. increased its holdings in shares of Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after buying an additional 110 shares in the last quarter. Finally, Essex Savings Bank increased its holdings in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after buying an additional 112 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SBUX shares. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Trading Down 1.2 %

Shares of NASDAQ:SBUX opened at $107.68 on Friday. The stock has a market capitalization of $122.31 billion, a PE ratio of 34.74, a P/E/G ratio of 3.47 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $110.34. The firm has a fifty day moving average price of $96.08 and a 200 day moving average price of $93.11.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal 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 2.27%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is 78.71%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.