Starbucks Co. (NASDAQ:SBUX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609,251 shares of the coffee company’s stock after selling 14,333 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Starbucks worth $55,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in Starbucks during the fourth quarter worth approximately $62,000. Dakota Wealth Management raised its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. raised its holdings in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its holdings in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $113.00 on Friday. The company has a 50-day simple moving average of $97.76 and a 200-day simple moving average of $95.49. The firm has a market capitalization of $128.36 billion, a P/E ratio of 36.45, a P/E/G 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 $113.40.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 period last year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared 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. This represents a $2.44 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. Wedbush upped their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.33.

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 transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.