New Century Financial Group LLC Has $584,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

New Century Financial Group LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,308 shares of the coffee company’s stock after selling 861 shares during the quarter. New Century Financial Group LLC’s holdings in Starbucks were worth $584,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBUX. Public Sector Pension Investment Board lifted its holdings in shares of Starbucks by 73.1% during the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after buying an additional 18,420 shares in the last quarter. Fred Alger Management LLC raised its stake in Starbucks by 3.7% in the 2nd quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock worth $3,320,000 after purchasing an additional 1,503 shares in the last quarter. Elgethun Capital Management boosted its holdings in Starbucks by 4.2% in the 2nd quarter. Elgethun Capital Management now owns 44,863 shares of the coffee company’s stock valued at $3,493,000 after purchasing an additional 1,789 shares during the period. Drucker Wealth 3.0 LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $3,479,000. Finally, DoubleLine ETF Adviser LP acquired a new stake in shares of Starbucks in the second quarter valued at approximately $2,361,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.3 %

Starbucks stock opened at $97.99 on Friday. The firm’s fifty day moving average price is $95.68 and its two-hundred day moving average price is $92.04. The firm has a market capitalization of $111.10 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its 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. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Wedbush reduced their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus increased their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, seven have assigned 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.