Confluence Investment Management LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Confluence Investment Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 679,814 shares of the coffee company’s stock after selling 8,735 shares during the quarter. Confluence Investment Management LLC owned approximately 0.06% of Starbucks worth $62,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp increased its holdings in shares of Starbucks by 12.8% in the 2nd quarter. Fiera Capital Corp now owns 44,590 shares of the coffee company’s stock valued at $3,471,000 after acquiring an additional 5,069 shares during the period. Magnus Financial Group LLC lifted its holdings in shares of Starbucks by 4.5% during the second quarter. Magnus Financial Group LLC now owns 8,542 shares of the coffee company’s stock worth $665,000 after purchasing an additional 365 shares during the period. Naviter Wealth LLC grew its position in Starbucks by 12.5% in the 2nd quarter. Naviter Wealth LLC now owns 18,629 shares of the coffee company’s stock valued at $1,450,000 after buying an additional 2,068 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Starbucks by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 97,299 shares of the coffee company’s stock valued at $7,575,000 after buying an additional 553 shares during the period. Finally, Absher Wealth Management LLC raised its position in Starbucks by 12.5% during the 2nd quarter. Absher Wealth Management LLC now owns 340,959 shares of the coffee company’s stock worth $26,544,000 after buying an additional 37,839 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on SBUX shares. Morgan Stanley lifted their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Performance

Shares of SBUX stock traded up $1.19 during trading hours on Thursday, reaching $92.44. The company had a trading volume of 1,713,665 shares, compared to its average volume of 10,802,064. The company has a market capitalization of $104.81 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock’s fifty day simple moving average is $96.84 and its 200 day simple moving average is $90.44.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. 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 2.64%. Starbucks’s payout ratio is currently 73.72%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

About Starbucks

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.