Chaney Capital Management Inc. Sells 724 Shares of Starbucks Co. (NASDAQ:SBUX)

Chaney Capital Management Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,699 shares of the coffee company’s stock after selling 724 shares during the quarter. Starbucks accounts for approximately 0.4% of Chaney Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Chaney Capital Management Inc.’s holdings in Starbucks were worth $885,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBUX. Private Advisory Group LLC grew its stake in shares of Starbucks by 2.9% during the 3rd quarter. Private Advisory Group LLC now owns 9,755 shares of the coffee company’s stock valued at $951,000 after purchasing an additional 274 shares during the period. Beaumont Financial Advisors LLC lifted its position in shares of Starbucks by 4.4% during the 3rd quarter. Beaumont Financial Advisors LLC now owns 4,255 shares of the coffee company’s stock valued at $415,000 after buying an additional 180 shares in the last quarter. LVW Advisors LLC lifted its position in shares of Starbucks by 18.4% during the 3rd quarter. LVW Advisors LLC now owns 3,136 shares of the coffee company’s stock valued at $306,000 after buying an additional 487 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Starbucks by 259.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,121 shares of the coffee company’s stock valued at $792,000 after buying an additional 5,863 shares in the last quarter. Finally, Wynn Capital LLC lifted its position in shares of Starbucks by 6.7% during the 3rd quarter. Wynn Capital LLC now owns 9,847 shares of the coffee company’s stock valued at $960,000 after buying an additional 618 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $112.20 on Friday. The company has a market cap of $127.45 billion, a P/E ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00. The business’s 50 day moving average price is $97.12 and its 200-day moving average price is $94.57. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The firm 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 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks 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.