Chevy Chase Trust Holdings LLC Sells 14,333 Shares of Starbucks Co. (NASDAQ:SBUX)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 609,251 shares of the coffee company’s stock after selling 14,333 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Starbucks were worth $55,594,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC boosted its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Starbucks by 1,491.4% in 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 boosted its stake in 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 last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Starbucks in the third quarter worth $126,574,000. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $113.00 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.40. The firm has a market cap of $128.36 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The firm’s 50-day simple moving average is $97.76 and its 200 day simple moving average is $95.49.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SBUX shares. Wells Fargo & Company lifted their price target 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. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

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.