Starbucks Co. (NASDAQ:SBUX) Stock Holdings Trimmed by Root Financial Partners LLC

Root Financial Partners LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,240 shares of the coffee company’s stock after selling 769 shares during the period. Root Financial Partners LLC’s holdings in Starbucks were worth $296,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. State Street Corp increased its position in shares of Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC increased its position in shares of Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC increased its position 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 valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP increased its position 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 valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $112.55 on Friday. The company has a market cap of $127.85 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The stock has a 50-day moving average of $98.03 and a 200-day moving average of $95.61. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, research analysts predict that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is 78.71%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value 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. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

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.