Starbucks Co. (NASDAQ:SBUX) Shares Sold by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,185 shares of the coffee company’s stock after selling 306 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Starbucks were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the second quarter worth approximately $25,000. DT Investment Partners LLC grew its stake 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 buying an additional 121 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Starbucks in the 3rd quarter worth $49,000. Friedenthal Financial acquired a new position in Starbucks in the third quarter valued at $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in Starbucks during the third quarter valued at about $71,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBUX. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Price Performance

Shares of SBUX opened at $98.81 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The business’s fifty day moving average price is $95.65 and its 200 day moving average price is $92.08. The stock has a market capitalization of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. As a group, research analysts anticipate that Starbucks Co. will post 3.08 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. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 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 shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by company insiders.

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.