Bartlett & CO. Wealth Management LLC Has $6.39 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bartlett & CO. Wealth Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,024 shares of the coffee company’s stock after selling 4,865 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Starbucks were worth $6,390,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SBUX. SG Americas Securities LLC grew its holdings in shares of Starbucks by 223.2% during the fourth quarter. SG Americas Securities LLC now owns 204,711 shares of the coffee company’s stock valued at $18,680,000 after buying an additional 370,808 shares during the last quarter. Phillips Wealth Planners LLC grew its holdings in shares of Starbucks by 50.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 5,156 shares of the coffee company’s stock valued at $476,000 after buying an additional 1,739 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $242,000. Park Place Capital Corp grew its holdings in shares of Starbucks by 12.2% during the fourth quarter. Park Place Capital Corp now owns 11,548 shares of the coffee company’s stock valued at $1,054,000 after buying an additional 1,257 shares during the last quarter. Finally, Finley Financial LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $94,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.3 %

SBUX opened at $97.73 on Thursday. The company has a market capitalization of $110.81 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99. The firm has a 50-day moving average price of $95.72 and a 200-day moving average price of $92.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate 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 net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.09 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SBUX shares. Barclays reduced their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.