Butensky & Cohen Financial Security Inc. Sells 22,336 Shares of Starbucks Co. (NASDAQ:SBUX)

Butensky & Cohen Financial Security Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,538 shares of the coffee company’s stock after selling 22,336 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Starbucks were worth $2,422,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. DT Investment Partners LLC grew its position in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks during the third quarter worth $49,000. Friedenthal Financial bought a new position in shares of Starbucks during the third 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.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $95.13 on Friday. The stock’s 50-day moving average is $95.89 and its 200-day moving average is $91.38. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The firm has a market cap of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.73 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, Stifel Nicolaus raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.