Starbucks Co. (NASDAQ:SBUX) Stake Cut by Emprise Bank

Emprise Bank reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,306 shares of the coffee company’s stock after selling 263 shares during the period. Emprise Bank’s holdings in Starbucks were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. FMR LLC lifted its holdings in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Marshall Wace LLP lifted its holdings in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Starbucks in the 2nd quarter worth approximately $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated 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 owns 65,648 shares in the company, 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 document filed with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBUX shares. Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Stock Performance

Starbucks stock traded down $0.56 on Monday, reaching $91.69. The company’s stock had a trading volume of 2,745,195 shares, compared to its average volume of 6,218,747. The company has a market cap of $103.96 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.86 and a beta of 0.99. The business’s fifty day moving average price is $96.13 and its 200 day moving average price is $91.13. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

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

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.