Janney Montgomery Scott LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Janney Montgomery Scott LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 246,498 shares of the coffee company’s stock after selling 27,431 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Starbucks were worth $22,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew its holdings in Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC increased its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its stake 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 during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $98.81 on Friday. The firm has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99. The business has a 50 day simple moving average of $95.65 and a 200-day simple moving average of $92.08. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced 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 dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.