Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lowered by Cypress Wealth Services LLC

Cypress Wealth Services LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,580 shares of the coffee company’s stock after selling 133 shares during the period. Cypress Wealth Services LLC’s holdings in Starbucks were worth $600,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter worth $25,000. DT Investment Partners LLC boosted its position in shares of Starbucks by 39.4% in the 3rd 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 position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial acquired a new stake in Starbucks during the 3rd quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in Starbucks during the third quarter valued at about $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBUX. BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. UBS Group upped their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Price Performance

SBUX stock opened at $94.43 on Friday. The stock has a market capitalization of $107.06 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. The company has a 50-day moving average of $95.92 and a two-hundred day moving average of $91.35. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. Starbucks’s payout ratio is 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is 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.