Starbucks Co. (NASDAQ:SBUX) Stock Position Reduced by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,098 shares of the coffee company’s stock after selling 894 shares during the quarter. Lazari Capital Management Inc.’s holdings in Starbucks were worth $1,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DT Investment Partners LLC boosted its position in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth $49,000. Friedenthal Financial purchased a new position in Starbucks in the third quarter valued at about $50,000. Capital Performance Advisors LLP bought a new stake in shares of Starbucks during the 3rd quarter worth about $71,000. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Starbucks by 61.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company’s stock worth $71,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Wells Fargo & Company raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, BTIG Research lifted their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Starbucks Stock Down 1.2 %

Shares of Starbucks stock opened at $107.68 on Monday. The firm has a market cap of $122.31 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $110.34. The company’s fifty day simple moving average is $96.19 and its two-hundred day simple moving average is $93.61.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3 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. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

About Starbucks

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.