Slow Capital Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,909 shares of the coffee company’s stock after selling 445 shares during the period. Slow Capital Inc.’s holdings in Starbucks were worth $448,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI raised its holdings in shares of Starbucks by 34.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 18,296 shares of the coffee company’s stock valued at $1,670,000 after buying an additional 4,694 shares during the last quarter. Pacer Advisors Inc. raised its stake in Starbucks by 35.9% during the 4th quarter. Pacer Advisors Inc. now owns 189,557 shares of the coffee company’s stock valued at $17,297,000 after acquiring an additional 50,030 shares during the last quarter. United Asset Strategies Inc. grew its position in Starbucks by 2.8% in the 4th quarter. United Asset Strategies Inc. now owns 125,107 shares of the coffee company’s stock valued at $11,416,000 after buying an additional 3,401 shares during the last quarter. Blue Trust Inc. increased its stake in Starbucks by 71.7% in the 4th quarter. Blue Trust Inc. now owns 23,413 shares of the coffee company’s stock valued at $2,282,000 after buying an additional 9,779 shares during the period. Finally, Narwhal Capital Management raised its position in Starbucks by 3.6% during the 4th quarter. Narwhal Capital Management now owns 24,349 shares of the coffee company’s stock worth $2,222,000 after buying an additional 848 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research increased their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.08.
Insider Buying and Selling at Starbucks
In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.98% of the company’s stock.
Starbucks Price Performance
Starbucks stock opened at $100.02 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The stock has a market capitalization of $113.40 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The firm has a 50 day simple moving average of $95.66 and a 200-day simple moving average of $92.53.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, analysts forecast that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.
Starbucks Announces Dividend
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 issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 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.
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