Hixon Zuercher LLC Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Hixon Zuercher LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 25,211 shares of the coffee company’s stock after selling 1,411 shares during the period. Hixon Zuercher LLC’s holdings in Starbucks were worth $2,301,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings 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 period. FMR LLC lifted its holdings in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Starbucks by 1,491.4% during the fourth 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% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Starbucks in the 3rd quarter worth approximately $126,574,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $109.00 on Friday. The stock’s 50 day moving average price is $95.90 and its 200 day moving average price is $93.00. The firm has a market cap of $123.81 billion, a P/E ratio of 35.16, a PEG ratio of 3.47 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $110.34.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.30%. During the same period last year, the firm earned $0.90 earnings per share. On average, research analysts predict that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.24%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.52.

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.