Northeast Investment Management Sells 1,374 Shares of Starbucks Co. (NASDAQ:SBUX)

Northeast Investment Management reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,650 shares of the coffee company’s stock after selling 1,374 shares during the period. Northeast Investment Management’s holdings in Starbucks were worth $607,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SBUX. Wellington Management Group LLP increased its stake in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC lifted its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after acquiring an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks in the 3rd quarter worth about $126,574,000. 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 1,491 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

SBUX stock opened at $112.20 on Friday. The firm’s fifty day moving average is $97.12 and its 200 day moving average is $94.57. The firm has a market cap of $127.45 billion, a PE ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $112.62.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm posted $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

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.