Starbucks Co. (NASDAQ:SBUX) Shares Sold by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 4.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,072 shares of the coffee company’s stock after selling 148 shares during the period. Cedar Mountain Advisors LLC’s holdings in Starbucks were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter valued at $25,000. DT Investment Partners LLC increased its holdings 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 valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter valued at about $49,000. Friedenthal Financial acquired a new stake in Starbucks in the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP bought a new position in Starbucks in the 3rd quarter valued at about $71,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Up 0.8 %

Shares of NASDAQ:SBUX opened at $98.81 on Friday. The firm has a fifty day moving average of $95.66 and a two-hundred day moving average of $92.25. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The firm has a market capitalization of $112.03 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 3.08 earnings per share for the current fiscal 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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is presently 73.72%.

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.