Starbucks Co. (NASDAQ:SBUX) Shares Sold by Johnson Bixby & Associates LLC

Johnson Bixby & Associates LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,152 shares of the coffee company’s stock after selling 499 shares during the period. Johnson Bixby & Associates LLC’s holdings in Starbucks were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at approximately $25,000. DT Investment Partners LLC grew its holdings in Starbucks by 39.4% in 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 during the period. FSA Wealth Management LLC purchased a new stake in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in Starbucks in the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in Starbucks in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $97.99 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company’s fifty day moving average is $95.68 and its two-hundred day moving average is $92.04. The stock has a market capitalization of $111.10 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company earned $1.06 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the 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 completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $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 available at this hyperlink. Corporate insiders own 1.98% of the company’s stock.

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.