Grimes & Company Inc. Has $2.89 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Grimes & Company Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,712 shares of the coffee company’s stock after selling 3,045 shares during the quarter. Grimes & Company Inc.’s holdings in Starbucks were worth $2,894,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Cyndeo Wealth Partners LLC grew its stake in shares of Starbucks by 8.8% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 12,586 shares of the coffee company’s stock worth $1,148,000 after acquiring an additional 1,023 shares in the last quarter. CX Institutional boosted its position in Starbucks by 23.1% during the fourth quarter. CX Institutional now owns 7,729 shares of the coffee company’s stock worth $705,000 after purchasing an additional 1,449 shares during the period. St. Johns Investment Management Company LLC boosted its position in Starbucks by 4.2% during the fourth quarter. St. Johns Investment Management Company LLC now owns 4,901 shares of the coffee company’s stock worth $447,000 after purchasing an additional 199 shares during the period. Sound Income Strategies LLC boosted its position in shares of Starbucks by 4.9% in the fourth quarter. Sound Income Strategies LLC now owns 9,925 shares of the coffee company’s stock valued at $906,000 after acquiring an additional 464 shares during the period. Finally, RFG Advisory LLC boosted its position in shares of Starbucks by 4.7% in the fourth quarter. RFG Advisory LLC now owns 10,524 shares of the coffee company’s stock valued at $960,000 after acquiring an additional 472 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.81 on Friday. The stock has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company has a 50 day moving average price of $95.66 and a 200 day moving average price of $92.25.

Starbucks (NASDAQ:SBUX) last issued 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. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, sell-side analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced 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 payout ratio is 73.72%.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley increased their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays decreased their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.98% of the company’s stock.

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.