Starbucks Co. (NASDAQ:SBUX) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,822 shares of the coffee company’s stock after selling 1,595 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Starbucks were worth $2,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LVW Advisors LLC grew its holdings in Starbucks by 18.4% during the third quarter. LVW Advisors LLC now owns 3,136 shares of the coffee company’s stock worth $306,000 after acquiring an additional 487 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Starbucks by 259.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,121 shares of the coffee company’s stock worth $792,000 after purchasing an additional 5,863 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its stake in shares of Starbucks by 9.6% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 209,955 shares of the coffee company’s stock worth $20,469,000 after purchasing an additional 18,472 shares during the period. Mechanics Bank Trust Department increased its holdings in shares of Starbucks by 14.7% during the 3rd quarter. Mechanics Bank Trust Department now owns 11,132 shares of the coffee company’s stock valued at $1,085,000 after purchasing an additional 1,425 shares in the last quarter. Finally, City State Bank lifted its stake in shares of Starbucks by 16.0% in the 3rd quarter. City State Bank now owns 7,264 shares of the coffee company’s stock valued at $708,000 after purchasing an additional 1,000 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBUX. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued 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, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Price Performance

Shares of SBUX opened at $112.20 on Monday. The firm has a 50-day simple moving average of $97.12 and a two-hundred day simple moving average of $94.70. The stock has a market cap of $127.45 billion, a PE ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $112.62.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 business earned $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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