Bard Financial Services Inc. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bard Financial Services Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,103 shares of the coffee company’s stock after selling 200 shares during the period. Bard Financial Services Inc.’s holdings in Starbucks were worth $6,579,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the 2nd quarter valued at approximately $25,000. Fairfield Financial Advisors LTD purchased a new position in Starbucks in the second quarter valued at $41,000. DT Investment Partners LLC boosted its holdings in 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 purchasing an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in Starbucks during the 3rd quarter worth about $49,000. Finally, Friedenthal Financial acquired a new stake in Starbucks in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wedbush dropped their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.87 during mid-day trading on Monday, hitting $93.45. 3,064,668 shares of the company’s stock traded hands, compared to its average volume of 5,515,696. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The company has a market cap of $105.95 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The firm’s 50 day simple moving average is $96.65 and its 200 day simple moving average is $90.67.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced 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 is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.61%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.