First Affirmative Financial Network Has $449,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

First Affirmative Financial Network reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,925 shares of the coffee company’s stock after selling 776 shares during the quarter. First Affirmative Financial Network’s holdings in Starbucks were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SBUX. Regal Investment Advisors LLC lifted its position in shares of Starbucks by 19.8% during the 2nd quarter. Regal Investment Advisors LLC now owns 9,888 shares of the coffee company’s stock worth $770,000 after buying an additional 1,634 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Starbucks by 21.8% in the second quarter. Truist Financial Corp now owns 806,884 shares of the coffee company’s stock worth $62,816,000 after acquiring an additional 144,516 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $316,000. Farmers National Bank grew its holdings in shares of Starbucks by 4.7% during the 2nd quarter. Farmers National Bank now owns 61,181 shares of the coffee company’s stock valued at $4,763,000 after purchasing an additional 2,737 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth approximately $25,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated 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 owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. Redburn Atlantic reaffirmed 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. 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. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Starbucks Trading Up 8.1 %

NASDAQ:SBUX opened at $108.58 on Thursday. The firm’s 50 day moving average is $95.70 and its 200 day moving average is $92.89. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $110.08. The stock has a market capitalization of $123.11 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter last year, the firm earned $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

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 issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 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.