Tanager Wealth Management LLP Sells 222 Shares of Starbucks Co. (NASDAQ:SBUX)

Tanager Wealth Management LLP decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,290 shares of the coffee company’s stock after selling 222 shares during the period. Tanager Wealth Management LLP’s holdings in Starbucks were worth $300,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter worth about $25,000. DT Investment Partners LLC boosted its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the 3rd quarter worth about $49,000. Friedenthal Financial bought a new stake in Starbucks in the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP bought a new stake in Starbucks in the 3rd quarter valued at about $71,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SBUX shares. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the 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 transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

SBUX stock opened at $110.60 on Wednesday. The company has a 50 day simple moving average of $96.31 and a 200 day simple moving average of $93.85. The stock has a market cap of $125.63 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the company posted $0.90 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.