AMI Asset Management Corp Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

AMI Asset Management Corp lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 343,210 shares of the coffee company’s stock after selling 6,126 shares during the quarter. Starbucks makes up about 1.7% of AMI Asset Management Corp’s investment portfolio, making the stock its 28th largest position. AMI Asset Management Corp’s holdings in Starbucks were worth $31,318,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. DT Investment Partners LLC lifted its position in Starbucks by 39.4% during the third 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 purchased a new position in shares of Starbucks in the 3rd quarter worth $49,000. Friedenthal Financial bought a new stake in shares of Starbucks in the 3rd quarter worth about $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $71,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBUX shares. Barclays dropped their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Stock Up 0.7 %

Starbucks stock opened at $95.13 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The business has a fifty day moving average of $95.74 and a two-hundred day moving average of $91.84. The firm has a market cap of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. Equities analysts expect that Starbucks Co. will post 3.1 earnings per share for the current 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 dividend yield of 2.56%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.