Cedar Mountain Advisors LLC Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cedar Mountain Advisors LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,072 shares of the coffee company’s stock after selling 148 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Starbucks were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Riverview Trust Co increased its stake in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares during the period. Essex Savings Bank grew its holdings in Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after acquiring an additional 112 shares in the last quarter. Virtue Capital Management LLC increased its position in shares of Starbucks by 1.7% in the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after purchasing an additional 115 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in shares of Starbucks by 2.4% in the 4th quarter. Red Door Wealth Management LLC now owns 4,985 shares of the coffee company’s stock valued at $455,000 after purchasing an additional 118 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

Shares of Starbucks stock opened at $98.81 on Friday. The business’s fifty day moving average is $95.66 and its two-hundred day moving average is $92.25. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market cap of $112.03 billion, a PE ratio of 29.85, a P/E/G 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates 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 last year, the business earned $1.06 EPS. Equities research analysts anticipate that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBUX shares. Wells Fargo & Company increased their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Wedbush reduced their price objective 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.92.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks Company 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.