Starbucks Co. (NASDAQ:SBUX) Shares Sold by Core Alternative Capital

Core Alternative Capital cut its stake in Starbucks Co. (NASDAQ:SBUX) by 26.1% in the fourth quarter, Holdings Channel reports. The firm owned 21,550 shares of the coffee company’s stock after selling 7,622 shares during the period. Core Alternative Capital’s holdings in Starbucks were worth $1,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SBUX. Financial Life Planners purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $25,000. DT Investment Partners LLC increased 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 purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks during the 3rd quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the 3rd quarter valued at approximately $50,000. Finally, Hager Investment Management Services LLC purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $56,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $111.45 on Tuesday. The firm’s 50-day moving average is $97.12 and its two-hundred day moving average is $94.84. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $112.62. The stock has a market capitalization of $126.60 billion, a P/E ratio of 35.95, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 quarter last year, the firm earned $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 2.19%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BTIG Research boosted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

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.