Starbucks Co. (NASDAQ:SBUX) Stake Lessened by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,763 shares of the coffee company’s stock after selling 32,850 shares during the period. Starbucks makes up about 1.3% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 22nd biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Starbucks were worth $21,787,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $103.92.

Starbucks Stock Up 0.7 %

NASDAQ:SBUX opened at $95.13 on Tuesday. The firm has a market cap of $107.86 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.82 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’s 50-day moving average price is $95.74 and its two-hundred day moving average price is $91.84.

Starbucks (NASDAQ:SBUX) last announced its 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 company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

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 dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s 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 transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by company insiders.

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.