RNC Capital Management LLC Sells 3,692 Shares of Starbucks Co. (NASDAQ:SBUX)

RNC Capital Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,590 shares of the coffee company’s stock after selling 3,692 shares during the period. RNC Capital Management LLC’s holdings in Starbucks were worth $2,700,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBUX. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC lifted its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks during the 3rd quarter worth approximately $126,574,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.5 %

NASDAQ SBUX opened at $111.70 on Friday. The stock has a market capitalization of $126.88 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.40 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.42. The stock has a 50-day moving average of $96.73 and a 200 day moving average of $94.20.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.90 earnings per share. Equities analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.18%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

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.