Granite Group Advisors LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Granite Group Advisors LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,979 shares of the coffee company’s stock after selling 1,530 shares during the period. Starbucks comprises 1.7% of Granite Group Advisors LLC’s holdings, making the stock its 7th largest holding. Granite Group Advisors LLC’s holdings in Starbucks were worth $2,736,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBUX. Narwhal Capital Management boosted its stake in shares of Starbucks by 3.6% during the 4th quarter. Narwhal Capital Management now owns 24,349 shares of the coffee company’s stock worth $2,222,000 after purchasing an additional 848 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Starbucks by 5.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,680 shares of the coffee company’s stock worth $3,712,000 after purchasing an additional 2,242 shares during the period. Stablepoint Partners LLC boosted its stake in shares of Starbucks by 2.0% during the 4th quarter. Stablepoint Partners LLC now owns 30,003 shares of the coffee company’s stock worth $2,738,000 after purchasing an additional 576 shares during the period. MKT Advisors LLC boosted its stake in shares of Starbucks by 10.4% during the 4th quarter. MKT Advisors LLC now owns 8,351 shares of the coffee company’s stock worth $794,000 after purchasing an additional 789 shares during the period. Finally, Avaii Wealth Management LLC purchased a new position in shares of Starbucks during the 4th quarter worth about $280,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The shares were 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 of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on SBUX shares. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Up 0.8 %

NASDAQ SBUX opened at $98.81 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a market cap of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The company has a 50 day moving average price of $95.66 and a 200 day moving average price of $92.39.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. Starbucks’s payout ratio is 73.72%.

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.