Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lessened by Meyer Handelman Co.

Meyer Handelman Co. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 2.4% during the fourth quarter, HoldingsChannel reports. The fund owned 89,359 shares of the coffee company’s stock after selling 2,234 shares during the quarter. Meyer Handelman Co.’s holdings in Starbucks were worth $8,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter valued at approximately $25,000. DT Investment Partners LLC lifted its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter worth $49,000. Friedenthal Financial bought a new stake in Starbucks in the third quarter worth $50,000. Finally, Capital Performance Advisors LLP acquired a new position in Starbucks during the third quarter worth $71,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.5 %

Shares of SBUX opened at $93.07 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a 50-day moving average price of $95.98 and a two-hundred day moving average price of $91.34. The stock has a market cap of $105.52 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 2.86 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 for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. Equities research analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. 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. Finally, Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were 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 in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

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.