Starbucks Co. (NASDAQ:SBUX) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,579 shares of the coffee company’s stock after selling 1,936 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Starbucks were worth $5,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its holdings in shares of Starbucks by 73.1% in the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock valued at $3,397,000 after buying an additional 18,420 shares during the period. Fred Alger Management LLC raised its position in Starbucks by 3.7% in the second quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock worth $3,320,000 after acquiring an additional 1,503 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in Starbucks by 21.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock valued at $1,110,000 after acquiring an additional 2,552 shares during the last quarter. MBB Public Markets I LLC boosted its position in shares of Starbucks by 2,424.2% during the 2nd quarter. MBB Public Markets I LLC now owns 80,346 shares of the coffee company’s stock valued at $6,255,000 after purchasing an additional 77,163 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in shares of Starbucks by 142.8% in the 2nd quarter. Maverick Capital Ltd. now owns 1,425,353 shares of the coffee company’s stock worth $110,964,000 after purchasing an additional 838,195 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SBUX shares. Bank of America cut their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday. Wedbush decreased their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.98% of the stock is owned by company insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $98.81 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business’s 50-day moving average price is $95.65 and its two-hundred day moving average price is $92.08. The company has a market capitalization of $112.03 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business 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 quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s dividend payout ratio is currently 73.72%.

About Starbucks

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.