Chaney Capital Management Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Chaney Capital Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,699 shares of the coffee company’s stock after selling 724 shares during the quarter. Starbucks makes up 0.4% of Chaney Capital Management Inc.’s holdings, making the stock its 22nd largest position. Chaney Capital Management Inc.’s holdings in Starbucks were worth $885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SBUX. Financial Life Planners acquired a new stake in Starbucks in the fourth quarter worth about $25,000. DT Investment Partners LLC lifted its holdings 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 worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth about $49,000. Friedenthal Financial acquired a new stake in shares of Starbucks during the third quarter worth about $50,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $56,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $112.20 on Friday. The stock’s fifty day moving average is $97.12 and its two-hundred day moving average is $94.57. The firm has a market capitalization of $127.45 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Morgan Stanley lifted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given 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.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.