Ritholtz Wealth Management Sells 866 Shares of Starbucks Co. (NASDAQ:SBUX)

Ritholtz Wealth Management trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,554 shares of the coffee company’s stock after selling 866 shares during the quarter. Ritholtz Wealth Management’s holdings in Starbucks were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter worth approximately $25,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% in 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. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial bought a new position in Starbucks in the 3rd quarter valued at $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Starbucks in the 3rd quarter valued at $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.7 %

Starbucks stock opened at $95.13 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company has a fifty day simple moving average of $95.84 and a 200 day simple moving average of $91.50. The company has a market cap of $107.86 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company earned $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SBUX shares. Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. BTIG Research increased their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays cut their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.92.

Insider Activity

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 value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is currently owned by insiders.

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.