CarsonAllaria Wealth Management Ltd. Sells 130 Shares of Starbucks Co. (NASDAQ:SBUX)

CarsonAllaria Wealth Management Ltd. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086 shares of the coffee company’s stock after selling 130 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Starbucks were worth $99,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC lifted its holdings in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks in the third quarter valued at about $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $110.60 on Wednesday. The company has a market capitalization of $125.63 billion, a P/E ratio of 35.68, a P/E/G ratio of 3.40 and a beta of 1.00. The business’s 50-day moving average is $96.31 and its two-hundred day moving average is $93.85. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $111.07.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.21%. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on SBUX. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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 company’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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.