Northeast Investment Management Has $607,000 Position in Starbucks Co. (NASDAQ:SBUX)

Northeast Investment Management lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,650 shares of the coffee company’s stock after selling 1,374 shares during the quarter. Northeast Investment Management’s holdings in Starbucks were worth $607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Benedict Financial Advisors Inc. increased its position in Starbucks by 3.4% during the 4th quarter. Benedict Financial Advisors Inc. now owns 45,508 shares of the coffee company’s stock worth $4,153,000 after buying an additional 1,493 shares during the period. Entropy Technologies LP bought a new position in Starbucks during the 4th quarter worth $812,000. Empowered Funds LLC lifted its position in Starbucks by 14.7% during the fourth quarter. Empowered Funds LLC now owns 45,818 shares of the coffee company’s stock worth $4,181,000 after purchasing an additional 5,877 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Starbucks by 1.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 24,310 shares of the coffee company’s stock worth $2,218,000 after acquiring an additional 411 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in Starbucks by 26.0% during the fourth quarter. Apollon Wealth Management LLC now owns 48,206 shares of the coffee company’s stock valued at $4,399,000 after purchasing an additional 9,961 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Up 0.4 %

Shares of NASDAQ:SBUX opened at $112.20 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.62. The stock has a market capitalization of $127.45 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.52 and a beta of 1.00. The stock has a fifty day simple moving average of $97.12 and a two-hundred day simple moving average of $94.57.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 business posted $0.90 EPS. As a group, equities research 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. Investors of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.