Starbucks Co. (NASDAQ:SBUX) is Granite Group Advisors LLC’s 7th Largest Position

Granite Group Advisors LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,979 shares of the coffee company’s stock after selling 1,530 shares during the quarter. Starbucks makes up about 1.7% of Granite Group Advisors LLC’s holdings, making the stock its 7th biggest holding. Granite Group Advisors LLC’s holdings in Starbucks were worth $2,736,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Annandale Capital LLC increased its holdings in shares of Starbucks by 60.9% in the 2nd quarter. Annandale Capital LLC now owns 9,775 shares of the coffee company’s stock valued at $761,000 after acquiring an additional 3,700 shares during the period. Clearline Capital LP purchased a new stake in shares of Starbucks during the 2nd quarter worth $1,635,000. Magnolia Capital Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $1,383,000. Nemes Rush Group LLC boosted its position in shares of Starbucks by 6.4% in the 2nd quarter. Nemes Rush Group LLC now owns 22,408 shares of the coffee company’s stock worth $1,744,000 after buying an additional 1,345 shares in the last quarter. Finally, Silver Lake Advisory LLC purchased a new position in Starbucks in the 2nd quarter valued at about $232,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday. Stifel Nicolaus increased their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Barclays reduced their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Trading Up 0.8 %

Shares of NASDAQ SBUX opened at $98.81 on Monday. The company has a market capitalization of $112.03 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99. The stock has a 50 day moving average of $95.66 and a 200-day moving average of $92.39. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the firm earned $1.06 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.