Hanson & Doremus Investment Management Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Hanson & Doremus Investment Management lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the coffee company’s stock after selling 532 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Starbucks were worth $193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the 2nd quarter worth about $25,000. DT Investment Partners LLC raised its position in shares of 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 during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks in the 3rd quarter worth about $49,000. Friedenthal Financial purchased a new position in Starbucks in the 3rd quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new position in Starbucks in the 3rd quarter worth about $71,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $109.00 on Friday. The business’s 50 day moving average price is $95.90 and its 200-day moving average price is $93.00. The firm has a market capitalization of $123.82 billion, a PE ratio of 32.93, a P/E/G 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 $110.34.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period last year, the firm earned $0.90 EPS. As a group, analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Announces Dividend

The business 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 dividend of $0.61 per share. 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 2.24%. Starbucks’s payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBUX. Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have issued 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.52.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by company insiders.

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.