Starbucks Co. (NASDAQ:SBUX) Shares Sold by White Pine Investment CO

White Pine Investment CO cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 67.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,905 shares of the coffee company’s stock after selling 26,653 shares during the period. White Pine Investment CO’s holdings in Starbucks were worth $1,178,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial acquired a new position in shares of Starbucks in the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the 3rd quarter worth about $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Stifel Nicolaus raised their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, UBS Group increased their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have given 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 a consensus price target of $103.92.

Starbucks Stock Performance

Starbucks stock opened at $97.98 on Wednesday. The firm has a market capitalization of $111.09 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.82 and a beta of 0.99. The company has a 50-day simple moving average of $95.74 and a 200-day simple moving average of $91.84. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 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.