Brady Family Wealth LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Brady Family Wealth LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,108 shares of the coffee company’s stock after selling 1,546 shares during the period. Starbucks accounts for approximately 1.4% of Brady Family Wealth LLC’s holdings, making the stock its 25th largest position. Brady Family Wealth LLC’s holdings in Starbucks were worth $4,481,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SBUX. Dimensional Fund Advisors LP raised its position in shares of Starbucks by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock valued at $206,279,000 after purchasing an additional 207,156 shares during the period. Pekin Hardy Strauss Inc. increased its stake in Starbucks by 16.0% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 9,848 shares of the coffee company’s stock worth $767,000 after buying an additional 1,358 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in Starbucks by 97.5% during the second quarter. Axxcess Wealth Management LLC now owns 27,330 shares of the coffee company’s stock valued at $2,128,000 after acquiring an additional 13,495 shares during the period. E Fund Management Co. Ltd. lifted its position in shares of Starbucks by 1.8% in the second quarter. E Fund Management Co. Ltd. now owns 11,347 shares of the coffee company’s stock valued at $883,000 after acquiring an additional 204 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Starbucks by 4.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 41,194 shares of the coffee company’s stock worth $3,207,000 after acquiring an additional 1,675 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus raised their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $93.08 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a 50-day simple moving average of $95.98 and a two-hundred day simple moving average of $91.34. The company has a market cap of $105.53 billion, a P/E ratio of 28.12, a PEG ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 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.