WealthBridge Investment Counsel Inc. Sells 340 Shares of Starbucks Co. (NASDAQ:SBUX)

WealthBridge Investment Counsel Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,968 shares of the coffee company’s stock after selling 340 shares during the quarter. Starbucks accounts for 2.4% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 20th biggest position. WealthBridge Investment Counsel Inc.’s holdings in Starbucks were worth $6,567,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. grew its holdings in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC increased its position in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC raised its stake in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its stake in shares of Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.98% of the stock is owned by corporate insiders.

Starbucks Trading Up 0.7 %

SBUX stock opened at $95.13 on Friday. The stock’s 50 day simple moving average is $95.84 and its 200 day simple moving average is $91.50. 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 $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 (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. Starbucks’s dividend payout ratio is presently 73.72%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBUX shares. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.