Starbucks Co. (NASDAQ:SBUX) Holdings Decreased by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,185 shares of the coffee company’s stock after selling 306 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Starbucks were worth $1,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. CX Institutional grew its holdings in shares of Starbucks by 23.1% during the 4th quarter. CX Institutional now owns 7,729 shares of the coffee company’s stock valued at $705,000 after acquiring an additional 1,449 shares in the last quarter. St. Johns Investment Management Company LLC grew its stake in Starbucks by 4.2% in the fourth quarter. St. Johns Investment Management Company LLC now owns 4,901 shares of the coffee company’s stock valued at $447,000 after purchasing an additional 199 shares in the last quarter. Sound Income Strategies LLC increased its position in Starbucks by 4.9% in the 4th quarter. Sound Income Strategies LLC now owns 9,925 shares of the coffee company’s stock worth $906,000 after purchasing an additional 464 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Starbucks by 4.7% during the 4th quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company’s stock worth $960,000 after purchasing an additional 472 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.8 %

SBUX stock opened at $98.81 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business’s 50 day moving average is $95.65 and its 200-day moving average is $92.08. The firm has a market cap of $112.03 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

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 given 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 yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.