Absher Wealth Management LLC Sells 76,217 Shares of Starbucks Co. (NASDAQ:SBUX)

Absher Wealth Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 287,501 shares of the coffee company’s stock after selling 76,217 shares during the quarter. Starbucks accounts for approximately 3.4% of Absher Wealth Management LLC’s holdings, making the stock its 14th biggest position. Absher Wealth Management LLC’s holdings in Starbucks were worth $26,234,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SBUX. Financial Life Planners bought a new position in Starbucks in the fourth quarter worth approximately $25,000. DT Investment Partners LLC raised its holdings in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC purchased a new position in Starbucks during the third quarter valued at $49,000. Friedenthal Financial bought a new stake in Starbucks during the third quarter valued at about $50,000. Finally, Hager Investment Management Services LLC purchased a new stake in Starbucks in the fourth quarter worth about $56,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Starbucks Trading Up 1.5 %

Shares of Starbucks stock opened at $112.25 on Thursday. The stock’s fifty day moving average price is $96.51 and its 200-day moving average price is $94.07. The firm has a market cap of $127.50 billion, a P/E ratio of 36.21, a P/E/G 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 $112.42.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 last year, the company posted $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 3 earnings per share for the current 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 given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 78.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Bank of America decreased their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.33.

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.