Starbucks Co. (NASDAQ:SBUX) Stock Position Reduced by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,473 shares of the coffee company’s stock after selling 369 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Starbucks were worth $499,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. DT Investment Partners LLC grew its position in 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 in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial bought a new position in shares of Starbucks during the 3rd quarter valued at $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Starbucks in the 3rd quarter valued at $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $100.02 on Tuesday. The business has a 50 day simple moving average of $95.66 and a 200 day simple moving average of $92.53. The company has a market capitalization of $113.40 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.44%. Starbucks’s dividend payout ratio is 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Citigroup increased their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Bank of America dropped 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.08.

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.