Three Bridge Wealth Advisors LLC Sells 225 Shares of Starbucks Co. (NASDAQ:SBUX)

Three Bridge Wealth Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,422 shares of the coffee company’s stock after selling 225 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in Starbucks were worth $769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Financial Life Planners purchased a new stake in shares of Starbucks in the 4th quarter worth about $25,000. Collier Financial bought a new stake in Starbucks during the 4th quarter valued at about $27,000. DT Investment Partners LLC lifted its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Starbucks during the third quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new position in Starbucks in the 3rd quarter valued at approximately $50,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.8 %

Shares of NASDAQ:SBUX opened at $113.04 on Thursday. The business’s 50 day moving average is $97.51 and its 200 day moving average is $95.37. The stock has a market cap of $128.40 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.19.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is presently 78.71%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were 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. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBUX shares. Stifel Nicolaus raised their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wells Fargo & Company increased 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. Finally, BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target 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.