Highland Capital Management LLC Sells 1,871 Shares of Starbucks Co. (NASDAQ:SBUX)

Highland Capital Management LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,356 shares of the coffee company’s stock after selling 1,871 shares during the quarter. Highland Capital Management LLC’s holdings in Starbucks were worth $5,599,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC boosted its stake in 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 acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial acquired a new stake in Starbucks in the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks in the third quarter valued at approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $108.58 on Thursday. The firm’s 50 day moving average price is $95.70 and its 200-day moving average price is $92.89. Starbucks Co. has a one year low of $71.55 and a one year high of $110.08. The firm has a market cap of $123.11 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the company posted $0.90 EPS. As a group, research analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.52.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The shares were 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. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

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.