Traynor Capital Management Inc. Has $648,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Traynor Capital Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,098 shares of the coffee company’s stock after selling 528 shares during the quarter. Traynor Capital Management Inc.’s holdings in Starbucks were worth $648,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% during 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 in the last quarter. Weil Company Inc. boosted its position in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC raised its position in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC raised its position in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario boosted its holdings in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $97.73 on Thursday. The stock has a market capitalization of $110.81 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The business has a fifty day moving average price of $95.72 and a 200 day moving average price of $92.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.09 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business 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 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 2.50%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada assumed coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by company insiders.

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.