Galvin Gaustad & Stein LLC Sells 3,814 Shares of Starbucks Co. (NASDAQ:SBUX)

Galvin Gaustad & Stein LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 35.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,055 shares of the coffee company’s stock after selling 3,814 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Starbucks were worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the second quarter worth approximately $25,000. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Starbucks during the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks during the third quarter valued at approximately $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.50 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock has a market capitalization of $110.54 billion, a P/E ratio of 29.50, a P/E/G ratio of 2.92 and a beta of 0.99. The company’s 50-day simple moving average is $95.68 and its 200-day simple moving average is $92.04.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, research analysts forecast that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

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.