Fortitude Advisory Group L.L.C. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Fortitude Advisory Group L.L.C. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,081 shares of the coffee company’s stock after selling 354 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Starbucks were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at $25,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% in the third 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 bought a new position in Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial purchased a new position in Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks during the 3rd quarter valued at $71,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SBUX. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday. Barclays dropped their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $104.08.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $100.02 on Tuesday. The stock has a 50 day moving average price of $95.66 and a 200 day moving average price of $92.53. The stock has a market capitalization of $113.40 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS 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 analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.