Groesbeck Investment Management Corp NJ Has $272,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Groesbeck Investment Management Corp NJ decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 36.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,977 shares of the coffee company’s stock after selling 1,710 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Starbucks were worth $272,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. DT Investment Partners LLC boosted its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC bought a new position in shares of Starbucks during the 3rd quarter worth approximately $49,000. Friedenthal Financial bought a new position in shares of Starbucks during the 3rd quarter worth approximately $50,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated 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 approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Starbucks Stock Up 2.3 %

Shares of SBUX opened at $110.60 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $111.07. The business has a 50-day simple moving average of $96.31 and a two-hundred day simple moving average of $93.85. The stock has a market cap of $125.63 billion, a PE ratio of 35.68, a PEG ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its 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 44.97% and a net margin of 9.73%. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3 EPS for the current 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 given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.21%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBUX. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.