Ferguson Wellman Capital Management Inc. Has $3.17 Million Position in Starbucks Co. (NASDAQ:SBUX)

Ferguson Wellman Capital Management Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,698 shares of the coffee company’s stock after selling 4,442 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $3,166,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of Starbucks by 100.6% in 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 acquiring an additional 7,598,146 shares during the last quarter. FMR LLC raised 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 purchasing an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks during the third quarter worth $126,574,000. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $112.20 on Monday. The stock has a market cap of $127.45 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00. The company has a fifty day moving average price of $97.12 and a two-hundred day moving average price of $94.70. Starbucks Co. has a one year low of $71.55 and a one year high of $112.62.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Ratings Changes

A number of brokerages recently commented on SBUX. Bank of America lowered 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. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.33.

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.