Goelzer Investment Management Inc. Has $5.44 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Goelzer Investment Management Inc. cut its position in Starbucks Co. (NASDAQ:SBUX) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,579 shares of the coffee company’s stock after selling 1,936 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Starbucks were worth $5,437,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SBUX. State Street Corp increased its stake in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC grew its holdings in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after buying an additional 333,004 shares during the last quarter. FMR LLC increased its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after acquiring an additional 327,734 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

Shares of NASDAQ SBUX opened at $98.81 on Friday. The company has a market cap of $112.03 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.91 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’s 50-day simple moving average is $95.65 and its 200 day simple moving average is $92.08.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. On average, equities analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays cut their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Bank of America reduced their price objective on 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

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.