Stonebridge Capital Management Inc. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Stonebridge Capital Management Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,063 shares of the coffee company’s stock after selling 275 shares during the quarter. Starbucks makes up 1.5% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 22nd biggest position. Stonebridge Capital Management Inc.’s holdings in Starbucks were worth $3,747,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Apella Capital LLC raised its stake in shares of Starbucks by 8.3% during the 4th quarter. Apella Capital LLC now owns 7,522 shares of the coffee company’s stock worth $686,000 after acquiring an additional 576 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Starbucks by 42.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 25,992 shares of the coffee company’s stock worth $2,372,000 after purchasing an additional 7,706 shares during the last quarter. Park Avenue Securities LLC grew its position in Starbucks by 21.2% during the 4th quarter. Park Avenue Securities LLC now owns 56,654 shares of the coffee company’s stock worth $5,170,000 after purchasing an additional 9,901 shares during the last quarter. Kathmere Capital Management LLC grew its position in Starbucks by 9.0% during the 4th quarter. Kathmere Capital Management LLC now owns 2,550 shares of the coffee company’s stock worth $233,000 after purchasing an additional 210 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.0 %

Shares of NASDAQ:SBUX opened at $93.08 on Thursday. The firm’s 50 day moving average price is $95.98 and its 200 day moving average price is $91.34. The stock has a market cap of $105.53 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.1 EPS 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 issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.62%. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. UBS Group increased their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by corporate insiders.

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.