HCR Wealth Advisors Reduces Position in Starbucks Co. (NASDAQ:SBUX)

HCR Wealth Advisors decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,333 shares of the coffee company’s stock after selling 152 shares during the quarter. HCR Wealth Advisors’ holdings in Starbucks were worth $2,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC boosted its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC purchased a new position in Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks in the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Starbucks during the 3rd quarter worth $71,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SBUX shares. UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Wedbush lowered their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Trading Up 0.0 %

NASDAQ:SBUX opened at $93.08 on Thursday. The company has a market capitalization of $105.53 billion, a P/E ratio of 28.12, a PEG ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm has a fifty day simple moving average of $95.98 and a 200-day simple moving average of $91.34.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 yield of 2.62%. Starbucks’s dividend payout ratio is currently 73.72%.

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.