Fortitude Advisory Group L.L.C. Has $737,000 Position in Starbucks Co. (NASDAQ:SBUX)

Fortitude Advisory Group L.L.C. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,081 shares of the coffee company’s stock after selling 354 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Starbucks were worth $737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Magnolia Capital Advisors LLC bought a new stake in Starbucks during the second quarter worth about $1,383,000. Silver Lake Advisory LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at approximately $232,000. Sunbelt Securities Inc. lifted its holdings in shares of Starbucks by 105.8% during the 2nd quarter. Sunbelt Securities Inc. now owns 26,054 shares of the coffee company’s stock worth $2,028,000 after acquiring an additional 13,393 shares during the period. Invst LLC boosted its position in shares of Starbucks by 5.7% during the 2nd quarter. Invst LLC now owns 20,372 shares of the coffee company’s stock worth $1,571,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Quarry LP increased its stake in Starbucks by 127.7% in the second quarter. Quarry LP now owns 3,145 shares of the coffee company’s stock valued at $245,000 after acquiring an additional 1,764 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $100.02 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock’s 50 day simple moving average is $95.66 and its 200 day simple moving average is $92.53. The company has a market cap of $113.40 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.91 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, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for 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%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.08.

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.