First Affirmative Financial Network Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

First Affirmative Financial Network cut its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,925 shares of the coffee company’s stock after selling 776 shares during the period. First Affirmative Financial Network’s holdings in Starbucks were worth $449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth approximately $25,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter worth about $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks in the third quarter worth approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 8.1 %

Shares of SBUX opened at $108.58 on Thursday. The stock’s 50 day moving average is $95.70 and its two-hundred day moving average is $92.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.08. The firm has a market capitalization of $123.11 billion, a PE ratio of 32.80, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business 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. This represents a $2.44 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SBUX shares. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.52.

View Our Latest Stock Report on Starbucks

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by corporate insiders.

About Starbucks

(Free Report)

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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