Starbucks Co. (NASDAQ:SBUX) Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,977 shares of the coffee company’s stock after selling 2,425 shares during the quarter. Wendell David Associates Inc.’s holdings in Starbucks were worth $1,275,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wesbanco Bank Inc. increased its holdings in shares of Starbucks by 1.6% in the 4th quarter. Wesbanco Bank Inc. now owns 133,461 shares of the coffee company’s stock valued at $12,178,000 after acquiring an additional 2,111 shares during the last quarter. SG Americas Securities LLC increased its stake in Starbucks by 223.2% during the fourth quarter. SG Americas Securities LLC now owns 204,711 shares of the coffee company’s stock valued at $18,680,000 after purchasing an additional 370,808 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in Starbucks by 50.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 5,156 shares of the coffee company’s stock valued at $476,000 after purchasing an additional 1,739 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $242,000. Finally, Park Place Capital Corp lifted its position in shares of Starbucks by 12.2% in the 4th quarter. Park Place Capital Corp now owns 11,548 shares of the coffee company’s stock worth $1,054,000 after buying an additional 1,257 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $97.73 on Thursday. The stock has a fifty day moving average of $95.72 and a 200-day moving average of $92.00. The company has a market capitalization of $110.81 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush cut their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Morgan Stanley lifted 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.