Anchor Investment Management LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Anchor Investment Management LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,365 shares of the coffee company’s stock after selling 262 shares during the quarter. Anchor Investment Management LLC’s holdings in Starbucks were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Starbucks in the second quarter worth approximately $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBUX. UBS Group upped their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada initiated coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Trading Down 0.6 %

NASDAQ SBUX opened at $97.82 on Friday. The stock’s 50 day moving average is $98.17 and its 200 day moving average is $89.25. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock has a market cap of $110.91 billion, a PE ratio of 29.55, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 EPS. On average, analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Starbucks 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.