Rhumbline Advisers Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Rhumbline Advisers trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,229,301 shares of the coffee company’s stock after selling 22,158 shares during the quarter. Rhumbline Advisers’ holdings in Starbucks were worth $203,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $62,000. Dakota Wealth Management grew its stake in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. increased its position in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the period. Finally, Investment Management Corp of Ontario lifted its holdings in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $112.55 on Friday. The firm has a fifty day moving average price of $98.03 and a two-hundred day moving average price of $95.61. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.47. The firm has a market cap of $127.85 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00.

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, beating 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 in the prior year, the firm posted $0.90 earnings per share. As a group, analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

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 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 is currently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Insider Activity at Starbucks

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

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.