Claro Advisors LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,204 shares of the coffee company’s stock after selling 2,751 shares during the quarter. Claro Advisors LLC’s holdings in Starbucks were worth $1,296,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter valued at approximately $25,000. Fairfield Financial Advisors LTD acquired a new position in Starbucks during the 2nd quarter valued at approximately $41,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the 3rd 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 in the last quarter. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new position in Starbucks during the 3rd quarter valued at approximately $50,000. Institutional investors own 72.29% of the company’s stock.
Insider Activity at Starbucks
In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.
Starbucks Stock Performance
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting 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 revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.11 EPS for the current fiscal year.
Starbucks Dividend Announcement
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 issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on SBUX shares. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Morgan Stanley increased their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Barclays lowered their price target 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. Finally, Wedbush lowered their price target 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.
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.
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