Starbucks Co. (NASDAQ:SBUX) Shares Sold by Coastwise Capital Group LLC

Coastwise Capital Group LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,398 shares of the coffee company’s stock after selling 521 shares during the period. Starbucks comprises about 1.3% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 20th biggest holding. Coastwise Capital Group LLC’s holdings in Starbucks were worth $1,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dakota Wealth Management increased its holdings in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares during the last quarter. Weil Company Inc. increased its stake in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares during the last quarter. Maia Wealth LLC raised its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC lifted its position in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. 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 report on Thursday, October 17th. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.52.

Starbucks Stock Performance

Shares of SBUX opened at $109.00 on Friday. The firm has a market cap of $123.81 billion, a PE ratio of 35.16, a PEG ratio of 3.47 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34. The firm’s 50 day moving average price is $96.08 and its 200 day moving average price is $93.11.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period last year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

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.