Sky Investment Group LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Sky Investment Group LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,792 shares of the coffee company’s stock after selling 324 shares during the quarter. Sky Investment Group LLC’s holdings in Starbucks were worth $1,806,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the second quarter worth $25,000. DT Investment Partners LLC raised its stake in 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 purchased a new position in Starbucks in the 3rd quarter valued at about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the 3rd quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the third quarter worth about $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $95.13 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The company has a market capitalization of $107.86 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.99. The firm’s fifty day moving average price is $95.84 and its 200 day moving average price is $91.71.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current fiscal 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 given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated 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 directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBUX. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating 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 note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.