Starbucks Co. (NASDAQ:SBUX) Shares Sold by Spinnaker Trust

Spinnaker Trust cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,251 shares of the coffee company’s stock after selling 202 shares during the period. Spinnaker Trust’s holdings in Starbucks were worth $479,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Jmac Enterprises LLC lifted its holdings in Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after acquiring an additional 103 shares during the last quarter. Aspire Capital Advisors LLC lifted its holdings in Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after acquiring an additional 104 shares during the last quarter. Riverview Trust Co lifted its holdings in Starbucks by 3.4% in the third 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 during the last quarter. Optas LLC lifted its holdings in Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC lifted its holdings 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 acquiring an additional 108 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBUX. Bank of America cut their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

NASDAQ SBUX opened at $112.55 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The company has a market capitalization of $127.85 billion, a PE ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00. The company has a fifty day moving average of $98.28 and a two-hundred day moving average of $95.87.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s dividend payout ratio is presently 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.