AMI Asset Management Corp Sells 6,126 Shares of Starbucks Co. (NASDAQ:SBUX)

AMI Asset Management Corp cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,210 shares of the coffee company’s stock after selling 6,126 shares during the quarter. Starbucks accounts for about 1.7% of AMI Asset Management Corp’s investment portfolio, making the stock its 28th largest holding. AMI Asset Management Corp’s holdings in Starbucks were worth $31,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Starbucks Price Performance

Shares of Starbucks stock opened at $95.13 on Tuesday. The stock has a market capitalization of $107.86 billion, a PE ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company’s fifty day simple moving average is $95.74 and its 200-day simple moving average is $91.84.

Starbucks (NASDAQ:SBUX) last released 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 during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is 73.72%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Royal Bank of Canada started coverage on Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup raised their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.