Procyon Advisors LLC Has $3.47 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Procyon Advisors LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,020 shares of the coffee company’s stock after selling 904 shares during the period. Procyon Advisors LLC’s holdings in Starbucks were worth $3,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter worth approximately $49,000. Friedenthal Financial acquired a new position in Starbucks during the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks in the third quarter valued at about $71,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Royal Bank of Canada assumed coverage on Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. Bank of America cut their price objective 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. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Get Our Latest Stock Analysis on Starbucks

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $94.43 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock has a market capitalization of $107.06 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. The company’s 50 day simple moving average is $95.92 and its 200 day simple moving average is $91.35.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

About Starbucks

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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