Everett Harris & Co. CA Has $95.87 Million Position in Starbucks Co. (NASDAQ:SBUX)

Everett Harris & Co. CA cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,050,589 shares of the coffee company’s stock after selling 8,087 shares during the quarter. Starbucks makes up 1.2% of Everett Harris & Co. CA’s portfolio, making the stock its 17th largest holding. Everett Harris & Co. CA owned about 0.09% of Starbucks worth $95,866,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Creek Financial Management LLC boosted its stake in Starbucks by 32.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 7,837 shares of the coffee company’s stock worth $715,000 after purchasing an additional 1,917 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in shares of Starbucks by 3.9% in the fourth quarter. Keudell Morrison Wealth Management now owns 9,867 shares of the coffee company’s stock valued at $900,000 after buying an additional 370 shares during the last quarter. Powers Advisory Group LLC lifted its position in Starbucks by 1.7% during the 4th quarter. Powers Advisory Group LLC now owns 8,047 shares of the coffee company’s stock worth $734,000 after buying an additional 137 shares in the last quarter. Kennebec Savings Bank grew its holdings in Starbucks by 3.3% during the 4th quarter. Kennebec Savings Bank now owns 6,003 shares of the coffee company’s stock worth $561,000 after acquiring an additional 192 shares during the last quarter. Finally, Boomfish Wealth Group LLC raised its stake in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Barclays boosted their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Down 1.2 %

Shares of SBUX stock opened at $107.68 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $110.34. The firm has a 50 day moving average price of $96.08 and a two-hundred day moving average price of $93.11. The company has a market capitalization of $122.31 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 3.47 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company 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 $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is currently owned by insiders.

About Starbucks

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.