Everett Harris & Co. CA Sells 8,087 Shares of Starbucks Co. (NASDAQ:SBUX)

Everett Harris & Co. CA reduced its position in Starbucks Co. (NASDAQ:SBUX) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,050,589 shares of the coffee company’s stock after selling 8,087 shares during the period. Starbucks comprises approximately 1.2% of Everett Harris & Co. CA’s portfolio, making the stock its 17th largest holding. Everett Harris & Co. CA’s holdings in Starbucks were worth $95,866,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% during 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 shares of Starbucks during the 3rd quarter worth about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks in the 3rd quarter valued at about $50,000. Finally, Capital Performance Advisors LLP bought a new stake in Starbucks in the 3rd quarter valued at about $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.2 %

Shares of NASDAQ SBUX opened at $107.68 on Friday. The firm has a market cap of $122.31 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 3.47 and a beta of 0.99. The stock has a fifty day simple moving average of $96.08 and a two-hundred day simple moving average of $93.11. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $110.34.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.30% and a net margin of 9.73%. During the same period last year, the company posted $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Stifel Nicolaus boosted 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. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by 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.