Campbell Newman Asset Management Inc. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Campbell Newman Asset Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,341 shares of the coffee company’s stock after selling 201 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Starbucks were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 2nd quarter worth about $25,000. DT Investment Partners LLC grew its stake in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the third quarter valued at $49,000. Friedenthal Financial acquired a new stake in Starbucks in the third quarter valued at $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in Starbucks during the 3rd quarter worth about $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.87 on Wednesday, reaching $93.94. 219,725 shares of the company were exchanged, compared to its average volume of 6,147,862. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The firm has a market cap of $106.51 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.86 and a beta of 0.99. The company’s 50-day moving average is $95.98 and its two-hundred day moving average is $91.34.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada initiated coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Company 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.