Starbucks Co. (NASDAQ:SBUX) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,323 shares of the coffee company’s stock after selling 1,516 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Starbucks were worth $1,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC boosted its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC purchased a new position in Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks in the 3rd quarter valued at approximately $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.3 %

Shares of Starbucks stock opened at $97.99 on Friday. The company has a fifty day moving average price of $95.68 and a 200 day moving average price of $92.04. The stock has a market cap of $111.10 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 earnings per share. Analysts forecast that Starbucks Co. will post 3.09 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SBUX shares. Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. UBS Group increased their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Activity

In related 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 value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents 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. Company insiders own 1.98% of the company’s stock.

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.