InTrack Investment Management Inc Sells 1,300 Shares of Starbucks Co. (NASDAQ:SBUX)

InTrack Investment Management Inc lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,975 shares of the coffee company’s stock after selling 1,300 shares during the period. InTrack Investment Management Inc’s holdings in Starbucks were worth $463,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Starbucks by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock worth $206,279,000 after buying an additional 207,156 shares in the last quarter. Waterloo Capital L.P. grew its position in Starbucks by 13.7% in the second quarter. Waterloo Capital L.P. now owns 2,704 shares of the coffee company’s stock valued at $210,000 after acquiring an additional 326 shares during the last quarter. Intech Investment Management LLC raised its stake in Starbucks by 4.1% during the second quarter. Intech Investment Management LLC now owns 1,000,848 shares of the coffee company’s stock worth $77,916,000 after acquiring an additional 38,961 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Starbucks by 3.9% in the second quarter. Brighton Jones LLC now owns 154,017 shares of the coffee company’s stock worth $11,990,000 after acquiring an additional 5,715 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Starbucks by 9.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 115,435 shares of the coffee company’s stock valued at $8,987,000 after purchasing an additional 9,753 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.7 %

Shares of SBUX stock opened at $95.13 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a 50 day moving average of $95.89 and a 200-day moving average of $91.38. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate 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 was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. Analysts anticipate that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.56%. Starbucks’s payout ratio is currently 73.72%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.92.

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.