Starbucks Co. (NASDAQ:SBUX) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,436 shares of the coffee company’s stock after selling 465 shares during the period. Chemistry Wealth Management LLC’s holdings in Starbucks were worth $770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC lifted its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SBUX shares. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. UBS Group increased their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of Starbucks stock opened at $95.13 on Friday. The firm has a market cap of $107.86 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm’s 50-day simple moving average is $95.89 and its 200-day simple moving average is $91.38.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. On average, equities analysts predict that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. 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.