Starbucks Co. (NASDAQ:SBUX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,822 shares of the coffee company’s stock after selling 1,595 shares during the period. Kingsview Wealth Management LLC’s holdings in Starbucks were worth $2,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in SBUX. Apollon Wealth Management LLC boosted its position in shares of Starbucks by 26.0% in the 4th quarter. Apollon Wealth Management LLC now owns 48,206 shares of the coffee company’s stock valued at $4,399,000 after purchasing an additional 9,961 shares during the period. Vest Financial LLC lifted its stake in Starbucks by 23.2% in the fourth quarter. Vest Financial LLC now owns 9,100 shares of the coffee company’s stock valued at $830,000 after buying an additional 1,716 shares during the last quarter. Cidel Asset Management Inc. grew its position in shares of Starbucks by 5.6% during the fourth quarter. Cidel Asset Management Inc. now owns 7,460 shares of the coffee company’s stock worth $681,000 after acquiring an additional 397 shares during the last quarter. Joel Isaacson & Co. LLC increased its holdings in shares of Starbucks by 4.2% in the 4th quarter. Joel Isaacson & Co. LLC now owns 8,126 shares of the coffee company’s stock valued at $741,000 after acquiring an additional 329 shares during the period. Finally, Shepherd Financial Partners LLC raised its position in Starbucks by 0.8% in the 4th quarter. Shepherd Financial Partners LLC now owns 23,513 shares of the coffee company’s stock valued at $2,146,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Starbucks Stock Up 0.4 %

NASDAQ SBUX opened at $112.20 on Monday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62. The business has a fifty day moving average of $97.12 and a 200-day moving average of $94.70. The stock has a market cap of $127.45 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the business posted $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is currently 78.71%.

Analysts Set New Price Targets

A number of research firms have commented on SBUX. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.