Eagle Bay Advisors LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Eagle Bay Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,471 shares of the coffee company’s stock after selling 177 shares during the period. Eagle Bay Advisors LLC’s holdings in Starbucks were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SBUX. Riverview Trust Co lifted its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares in the last quarter. Essex Savings Bank raised its position in Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares during the period. Virtue Capital Management LLC raised its position in Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after purchasing an additional 115 shares during the period. DT Investment Partners LLC raised its position in 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. Finally, Childress Capital Advisors LLC grew its stake in shares of Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.5 %

NASDAQ SBUX traded down $0.43 on Monday, reaching $91.82. The stock had a trading volume of 2,964,479 shares, compared to its average volume of 6,349,931. The firm has a market capitalization of $104.11 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 2.86 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The stock has a fifty day moving average price of $96.13 and a two-hundred day moving average price of $91.13.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.66%. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Stifel Nicolaus increased their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

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.