Marks Group Wealth Management Inc Sells 515 Shares of Starbucks Co. (NASDAQ:SBUX)

Marks Group Wealth Management Inc lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,494 shares of the coffee company’s stock after selling 515 shares during the period. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $2,235,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in Starbucks in the 3rd quarter valued at about $195,000. Grove Bank & Trust raised its stake in Starbucks by 21.3% in the third quarter. Grove Bank & Trust now owns 1,401 shares of the coffee company’s stock valued at $137,000 after buying an additional 246 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Starbucks by 2.1% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 10,094 shares of the coffee company’s stock valued at $984,000 after buying an additional 204 shares during the last quarter. Hayek Kallen Investment Management boosted its stake in shares of Starbucks by 3.5% during the 3rd quarter. Hayek Kallen Investment Management now owns 13,001 shares of the coffee company’s stock worth $1,267,000 after acquiring an additional 441 shares during the period. Finally, Cedar Mountain Advisors LLC increased its holdings in shares of Starbucks by 10.0% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 3,220 shares of the coffee company’s stock worth $314,000 after acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 0.4 %

Shares of NASDAQ:SBUX opened at $111.03 on Wednesday. The stock has a market capitalization of $126.12 billion, a PE ratio of 35.82, a PEG ratio of 3.52 and a beta of 1.00. The firm has a 50 day moving average of $97.32 and a 200-day moving average of $95.10. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $112.62.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 business posted $0.90 EPS. On average, research analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.33.

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.