RDA Financial Network Has $288,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

RDA Financial Network cut its stake in Starbucks Co. (NASDAQ:SBUX) by 18.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,160 shares of the coffee company’s stock after selling 738 shares during the quarter. RDA Financial Network’s holdings in Starbucks were worth $288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Dakota Wealth Management boosted its position in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. boosted its holdings in shares of 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 in the last quarter. Maia Wealth LLC grew its position in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares during the last quarter. Aljian Capital Management LLC increased its holdings in Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its position in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated 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 in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 0.7 %

SBUX opened at $95.13 on Friday. The stock has a market cap of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a fifty day simple moving average of $95.89 and a 200 day simple moving average of $91.38.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SBUX. Stifel Nicolaus raised their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays dropped their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.92.

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.