Van ECK Associates Corp Sells 37,148 Shares of Starbucks Co. (NASDAQ:SBUX)

Van ECK Associates Corp reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,267,033 shares of the coffee company’s stock after selling 37,148 shares during the period. Van ECK Associates Corp’s holdings in Starbucks were worth $206,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Avion Wealth lifted its position in shares of Starbucks by 14.0% during the 4th quarter. Avion Wealth now owns 1,786 shares of the coffee company’s stock worth $162,000 after buying an additional 220 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Starbucks by 7.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 532,741 shares of the coffee company’s stock worth $49,103,000 after acquiring an additional 35,790 shares during the last quarter. Jmac Enterprises LLC lifted its holdings in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after acquiring an additional 103 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Starbucks by 1.1% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 11,259 shares of the coffee company’s stock valued at $1,027,000 after purchasing an additional 122 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in shares of Starbucks during the 4th quarter valued at approximately $67,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 1.8 %

SBUX opened at $113.04 on Thursday. The company has a market cap of $128.40 billion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The company has a fifty day moving average price of $97.51 and a two-hundred day moving average price of $95.37. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.19.

Starbucks (NASDAQ:SBUX) last posted 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 quarter in the prior year, the company posted $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared 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 of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.16%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated 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 $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.