OMC Financial Services LTD Sells 1,233 Shares of Starbucks Co. (NASDAQ:SBUX)

OMC Financial Services LTD cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,327 shares of the coffee company’s stock after selling 1,233 shares during the quarter. Starbucks accounts for about 0.9% of OMC Financial Services LTD’s portfolio, making the stock its 25th largest position. OMC Financial Services LTD’s holdings in Starbucks were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Aspire Capital Advisors LLC grew its stake in shares of Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after buying an additional 104 shares during the last quarter. Riverview Trust Co boosted its holdings in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares in the last quarter. Optas LLC increased its holdings in Starbucks by 0.6% in the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares in the last quarter. Boomfish Wealth Group LLC raised its position in Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the last quarter. Finally, Foster Group Inc. raised its position in Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after purchasing an additional 110 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, 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 SEC, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SBUX shares. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $112.20 on Monday. The stock has a market cap of $127.45 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62. The firm’s 50-day simple moving average is $97.12 and its 200 day simple moving average is $94.70.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 period last year, the firm earned $0.90 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s payout ratio is 78.71%.

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.