Penn Davis Mcfarland Inc. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Penn Davis Mcfarland Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,444 shares of the coffee company’s stock after selling 135 shares during the period. Penn Davis Mcfarland Inc.’s holdings in Starbucks were worth $2,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC increased its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

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

Starbucks Stock Performance

SBUX opened at $95.13 on Monday. The stock’s 50 day moving average price is $95.84 and its 200-day moving average price is $91.60. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock has a market capitalization of $107.86 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. Research analysts forecast that Starbucks Co. will post 3.1 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. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.56%. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.92.

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.