Klingenstein Fields & Co. LP Has $20.33 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Klingenstein Fields & Co. LP trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 222,755 shares of the coffee company’s stock after selling 1,088 shares during the period. Klingenstein Fields & Co. LP’s holdings in Starbucks were worth $20,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SBUX. Financial Life Planners acquired a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. DT Investment Partners LLC lifted its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the third quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new position in shares of Starbucks in the third quarter worth approximately $50,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.0 %

Shares of Starbucks stock opened at $113.00 on Friday. The stock has a fifty day simple moving average of $97.76 and a 200 day simple moving average of $95.49. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.40. The company has a market capitalization 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.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company earned $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.16%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. 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. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks 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.