Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,698 shares of the coffee company’s stock after selling 4,442 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $3,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. RAM Investment Partners LLC lifted its stake in Starbucks by 59.2% during the fourth quarter. RAM Investment Partners LLC now owns 3,319 shares of the coffee company’s stock valued at $303,000 after purchasing an additional 1,234 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Starbucks by 11.7% in the fourth quarter. Angeles Wealth Management LLC now owns 3,236 shares of the coffee company’s stock valued at $295,000 after buying an additional 338 shares in the last quarter. Martin Capital Advisors LLP lifted its position in shares of Starbucks by 2.4% during the 4th quarter. Martin Capital Advisors LLP now owns 33,109 shares of the coffee company’s stock valued at $3,021,000 after acquiring an additional 790 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $354,000. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Starbucks by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 85,589 shares of the coffee company’s stock worth $7,810,000 after acquiring an additional 1,674 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $112.20 on Monday. The firm has a market cap of $127.45 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 3.52 and a beta of 1.00. The firm has a fifty day moving average price of $97.12 and a two-hundred day moving average price of $94.70. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $112.62.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 business posted $0.90 earnings per share. As a group, sell-side analysts expect 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.