Sawyer & Company Inc Sells 945 Shares of Starbucks Co. (NASDAQ:SBUX)

Sawyer & Company Inc lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,930 shares of the coffee company’s stock after selling 945 shares during the quarter. Sawyer & Company Inc’s holdings in Starbucks were worth $2,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Dimensional Fund Advisors LP increased its position in shares of Starbucks by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock valued at $206,279,000 after acquiring an additional 207,156 shares during the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of Starbucks by 16.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 9,848 shares of the coffee company’s stock valued at $767,000 after purchasing an additional 1,358 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Starbucks by 97.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 27,330 shares of the coffee company’s stock worth $2,128,000 after buying an additional 13,495 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Starbucks by 1.8% during the second quarter. E Fund Management Co. Ltd. now owns 11,347 shares of the coffee company’s stock valued at $883,000 after buying an additional 204 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Starbucks by 4.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 41,194 shares of the coffee company’s stock worth $3,207,000 after buying an additional 1,675 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.0 %

NASDAQ SBUX opened at $93.08 on Thursday. The company has a 50-day simple moving average of $95.98 and a two-hundred day simple moving average of $91.34. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The firm has a market cap of $105.53 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company 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 $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SBUX shares. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley increased 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. Barclays lowered their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, UBS Group increased their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks 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.