Global Trust Asset Management LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Global Trust Asset Management LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 809 shares of the coffee company’s stock after selling 275 shares during the period. Global Trust Asset Management LLC’s holdings in Starbucks were worth $74,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter worth about $25,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks during the third quarter worth approximately $49,000. Friedenthal Financial bought a new stake in shares of Starbucks in the 3rd quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBUX. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, BTIG Research upped their target price on 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, 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 has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Trading Down 0.3 %

SBUX opened at $97.73 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock has a fifty day moving average price of $95.72 and a 200-day moving average price of $92.00. The firm has a market cap of $110.81 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Dividend Announcement

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

Insider Transactions 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 stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

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.