Bartlett & CO. Wealth Management LLC Sells 4,865 Shares of Starbucks Co. (NASDAQ:SBUX)

Bartlett & CO. Wealth Management LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 70,024 shares of the coffee company’s stock after selling 4,865 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Starbucks were worth $6,390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after buying an additional 333,004 shares during the last quarter. FMR LLC raised its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on 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 owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SBUX shares. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. UBS Group upped their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Performance

SBUX opened at $97.73 on Thursday. The stock has a market capitalization of $110.81 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The company’s 50-day simple moving average is $95.72 and its two-hundred day simple moving average is $92.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. Research analysts forecast that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.