Magnus Financial Group LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Magnus Financial Group LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,418 shares of the coffee company’s stock after selling 313 shares during the period. Magnus Financial Group LLC’s holdings in Starbucks were worth $677,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Finley Financial LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $94,000. Madison Park Capital Advisors LLC raised its stake in Starbucks by 121.5% during the 4th quarter. Madison Park Capital Advisors LLC now owns 8,990 shares of the coffee company’s stock worth $820,000 after acquiring an additional 4,932 shares during the period. Eads & Heald Wealth Management raised its stake in Starbucks by 16.3% during the 4th quarter. Eads & Heald Wealth Management now owns 18,246 shares of the coffee company’s stock worth $1,665,000 after acquiring an additional 2,564 shares during the period. Beaumont Financial Advisors LLC lifted its holdings in Starbucks by 9.8% during the fourth quarter. Beaumont Financial Advisors LLC now owns 4,672 shares of the coffee company’s stock valued at $426,000 after purchasing an additional 417 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in shares of Starbucks by 20.0% in the fourth quarter. MCF Advisors LLC now owns 1,839 shares of the coffee company’s stock worth $168,000 after purchasing an additional 307 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SBUX. Royal Bank of Canada began coverage on shares of Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 target price on the stock. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.73 on Thursday. The firm has a market capitalization of $110.81 billion, a PE ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99. The stock’s fifty day moving average is $95.72 and its 200 day moving average is $92.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Starbucks Company 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.