Tealwood Asset Management Inc. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Tealwood Asset Management Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,381 shares of the coffee company’s stock after selling 182 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Starbucks were worth $1,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter worth about $25,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Starbucks in the 2nd quarter worth approximately $41,000. DT Investment Partners LLC boosted its stake in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks during the third quarter valued at approximately $49,000. Finally, Friedenthal Financial purchased a new stake in Starbucks during the third quarter worth $50,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $93.51 on Tuesday. The business has a 50 day simple moving average of $96.06 and a 200-day simple moving average of $91.24. The stock has a market capitalization of $106.02 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 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, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm 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. 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 2.61%. Starbucks’s payout ratio is presently 73.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBUX. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, BTIG Research raised 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s 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. The trade was a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

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.