Mutual Advisors LLC Sells 1,248 Shares of Starbucks Co. (NASDAQ:SBUX)

Mutual Advisors LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,748 shares of the coffee company’s stock after selling 1,248 shares during the quarter. Mutual Advisors LLC’s holdings in Starbucks were worth $4,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. DT Investment Partners LLC boosted its position 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 in the last quarter. FSA Wealth Management LLC purchased a new stake in Starbucks in the third quarter worth $49,000. Friedenthal Financial bought a new position in Starbucks in the third quarter worth $50,000. Finally, Capital Performance Advisors LLP purchased a new position in Starbucks during the third quarter valued at $71,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped 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. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America dropped their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.99 on Friday. The company has a market cap of $111.10 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.92 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock’s 50 day simple moving average is $95.68 and its two-hundred day simple moving average is $92.04.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

About Starbucks

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.