Weatherly Asset Management L. P. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Weatherly Asset Management L. P. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 103,994 shares of the coffee company’s stock after selling 992 shares during the period. Starbucks comprises about 0.8% of Weatherly Asset Management L. P.’s holdings, making the stock its 25th largest holding. Weatherly Asset Management L. P.’s holdings in Starbucks were worth $9,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dakota Wealth Management increased its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. increased its stake in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Investment Management Corp of Ontario increased its stake in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares in the last quarter. Finally, Aljian Capital Management LLC increased its stake in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $111.45 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.62. The business has a 50 day simple moving average of $97.12 and a two-hundred day simple moving average of $94.84. The firm has a market capitalization of $126.60 billion, a PE ratio of 35.95, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 3 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBUX. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.33.

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.