Absher Wealth Management LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Absher Wealth Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 21.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 287,501 shares of the coffee company’s stock after selling 76,217 shares during the period. Starbucks accounts for 3.4% of Absher Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Absher Wealth Management LLC’s holdings in Starbucks were worth $26,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at approximately $25,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter worth about $49,000. Friedenthal Financial purchased a new position in Starbucks during the third quarter valued at approximately $50,000. Finally, Hager Investment Management Services LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $112.25 on Thursday. The company has a market capitalization of $127.50 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The company’s 50 day simple moving average is $96.51 and its 200-day simple moving average is $94.07. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.42.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the business earned $0.90 EPS. Equities analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is presently 78.71%.

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 shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

About Starbucks

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.