Essex LLC Sells 2,532 Shares of Starbucks Co. (NASDAQ:SBUX)

Essex LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,160 shares of the coffee company’s stock after selling 2,532 shares during the period. Essex LLC’s holdings in Starbucks were worth $3,391,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in Starbucks during the fourth quarter worth $25,000. DT Investment Partners LLC increased 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 valued at $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the 3rd quarter worth $49,000. Friedenthal Financial purchased a new position in shares of Starbucks in the 3rd quarter worth about $50,000. Finally, Hager Investment Management Services LLC bought a new position in Starbucks during the fourth quarter valued at about $56,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Up 0.4 %

NASDAQ:SBUX opened at $112.20 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.62. The stock has a market cap of $127.45 billion, a P/E ratio of 36.19, a PEG ratio of 3.52 and a beta of 1.00. The business’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $94.57.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the firm earned $0.90 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s dividend payout ratio is presently 78.71%.

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.