Riverbridge Partners LLC Sells 18,930 Shares of Starbucks Co. (NASDAQ:SBUX)

Riverbridge Partners LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 510,103 shares of the coffee company’s stock after selling 18,930 shares during the period. Riverbridge Partners LLC’s holdings in Starbucks were worth $46,547,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SBUX shares. BTIG Research increased their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective 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 boosted their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.73 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company has a market capitalization of $110.81 billion, a PE ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The firm’s 50-day moving average price is $95.68 and its 200-day moving average price is $92.04.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Starbucks Company 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.