Galvin Gaustad & Stein LLC Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Galvin Gaustad & Stein LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 35.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,055 shares of the coffee company’s stock after selling 3,814 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Starbucks were worth $644,000 at the end of the most recent reporting period.

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

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of SBUX opened at $97.50 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market cap of $110.54 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. The firm has a fifty day moving average price of $95.68 and a 200 day moving average price of $92.04.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. 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 company earned $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed 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 2.50%. Starbucks’s payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. Royal Bank of Canada assumed coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.