Manchester Capital Management LLC Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Manchester Capital Management LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,065 shares of the coffee company’s stock after selling 94 shares during the period. Manchester Capital Management LLC’s holdings in Starbucks were worth $827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jmac Enterprises LLC boosted its holdings in Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after acquiring an additional 103 shares during the period. Aspire Capital Advisors LLC boosted its holdings in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after acquiring an additional 104 shares during the period. Riverview Trust Co boosted its holdings in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the period. Optas LLC boosted its holdings in Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC boosted its holdings in Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Down 0.4 %

SBUX opened at $112.55 on Friday. The firm has a market cap of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00. The business has a fifty day simple moving average of $98.03 and a 200-day simple moving average of $95.61. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.47.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is presently 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.