Harbor Investment Advisory LLC Sells 664 Shares of Starbucks Co. (NASDAQ:SBUX)

Harbor Investment Advisory LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,430 shares of the coffee company’s stock after selling 664 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Starbucks were worth $4,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bridges Investment Management Inc. lifted its position in Starbucks by 21.0% during the second quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after purchasing an additional 747 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Starbucks by 42.1% in the second quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock worth $1,798,000 after buying an additional 6,841 shares during the period. Pacer Advisors Inc. lifted its position in shares of Starbucks by 0.9% during the second quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock worth $10,442,000 after purchasing an additional 1,182 shares during the last quarter. Holderness Investments Co. boosted its position in Starbucks by 8.1% in the 2nd quarter. Holderness Investments Co. now owns 3,748 shares of the coffee company’s stock valued at $292,000 after buying an additional 280 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in Starbucks by 8,935.9% in the second quarter. Frank Rimerman Advisors LLC now owns 14,096 shares of the coffee company’s stock worth $1,097,000 after purchasing an additional 13,940 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays reduced their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Citigroup boosted their target price 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. Royal Bank of Canada began coverage on Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’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 value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $95.13 on Tuesday. The stock’s 50-day moving average is $95.84 and its two-hundred day moving average is $91.71. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

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

Starbucks 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.