Starbucks Co. (NASDAQ:SBUX) Shares Sold by Gradient Investments LLC

Gradient Investments LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,279 shares of the coffee company’s stock after selling 26,245 shares during the quarter. Gradient Investments LLC’s holdings in Starbucks were worth $29,955,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SBUX. Public Sector Pension Investment Board raised its position in Starbucks by 73.1% during the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock valued at $3,397,000 after acquiring an additional 18,420 shares in the last quarter. Fred Alger Management LLC lifted its stake in shares of Starbucks by 3.7% in the 2nd quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock valued at $3,320,000 after purchasing an additional 1,503 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of Starbucks by 21.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock valued at $1,110,000 after purchasing an additional 2,552 shares during the period. MBB Public Markets I LLC boosted its holdings in Starbucks by 2,424.2% during the second quarter. MBB Public Markets I LLC now owns 80,346 shares of the coffee company’s stock worth $6,255,000 after buying an additional 77,163 shares in the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Starbucks by 142.8% in the second quarter. Maverick Capital Ltd. now owns 1,425,353 shares of the coffee company’s stock valued at $110,964,000 after buying an additional 838,195 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of SBUX stock opened at $98.81 on Friday. The firm’s 50-day moving average is $95.65 and its two-hundred day moving average is $92.08. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market capitalization of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBUX. Stifel Nicolaus increased their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.