Starbucks Co. (NASDAQ:SBUX) Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,473 shares of the coffee company’s stock after selling 369 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Starbucks were worth $499,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SBUX. Dakota Wealth Management grew its position in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. grew its holdings in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its position in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC lifted its position in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.08.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.2 %

Shares of Starbucks stock opened at $100.02 on Tuesday. The business has a fifty day simple moving average of $95.66 and a 200-day simple moving average of $92.53. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market cap of $113.40 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.91 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 for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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 annualized dividend and a yield of 2.44%. Starbucks’s 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.