GSB Wealth Management LLC Sells 655 Shares of Starbucks Co. (NASDAQ:SBUX)

GSB Wealth Management LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,146 shares of the coffee company’s stock after selling 655 shares during the quarter. GSB Wealth Management LLC’s holdings in Starbucks were worth $1,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth approximately $25,000. DT Investment Partners LLC boosted its stake in 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 period. FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter worth approximately $49,000. Friedenthal Financial bought a new position in Starbucks in the 3rd quarter worth approximately $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks in the 3rd quarter worth approximately $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.8 %

SBUX opened at $98.81 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The business’s fifty day simple moving average is $95.66 and its 200-day simple moving average is $92.25. The company has a market capitalization of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.08 EPS 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBUX shares. UBS Group upped their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now 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. 1.98% of the stock is owned by corporate 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.