Burns J W & Co. Inc. NY Has $5.89 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Burns J W & Co. Inc. NY lessened its position in Starbucks Co. (NASDAQ:SBUX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 64,589 shares of the coffee company’s stock after selling 5,260 shares during the period. Burns J W & Co. Inc. NY’s holdings in Starbucks were worth $5,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SBUX. Dakota Wealth Management grew its holdings in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. raised its stake in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC boosted its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its position in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX stock traded up $1.26 during trading hours on Monday, reaching $93.51. The company had a trading volume of 6,902,450 shares, compared to its average volume of 6,957,639. The business has a fifty day simple moving average of $96.13 and a 200-day simple moving average of $91.13. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market cap of $106.02 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.61%. Starbucks’s payout ratio is presently 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several analyst reports. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.77.

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.