KMG Fiduciary Partners LLC Sells 1,374 Shares of Starbucks Co. (NASDAQ:SBUX)

KMG Fiduciary Partners LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 25,702 shares of the coffee company’s stock after selling 1,374 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Starbucks were worth $2,345,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew 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 in the last quarter. FMR LLC grew 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.5 %

NASDAQ SBUX opened at $94.43 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The stock has a market cap of $107.06 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99. The stock’s fifty day moving average price is $95.92 and its 200-day moving average price is $91.35.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting 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 analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the 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 sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush lowered their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.92.

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.