Resonant Capital Advisors LLC Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Resonant Capital Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,116 shares of the coffee company’s stock after selling 121 shares during the period. Resonant Capital Advisors LLC’s holdings in Starbucks were worth $1,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aspire Capital Advisors LLC raised its holdings in shares of Starbucks by 0.5% in the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares in the last quarter. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares in the last quarter. Boomfish Wealth Group LLC raised its holdings in shares of Starbucks by 0.7% in the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares in the last quarter. Foster Group Inc. raised its holdings in shares of Starbucks by 4.0% in the 4th quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after purchasing an additional 110 shares in the last quarter. Finally, Essex Savings Bank raised its holdings in shares of Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SBUX. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target 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. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Trading Down 1.2 %

SBUX stock opened at $107.68 on Monday. The company has a market cap of $122.31 billion, a P/E ratio of 34.74, a P/E/G ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $110.34. The company’s 50-day moving average price is $96.19 and its 200 day moving average price is $93.61.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the company earned $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 2.27%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 78.71%.

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.