Global Trust Asset Management LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Global Trust Asset Management LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 25.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 809 shares of the coffee company’s stock after selling 275 shares during the quarter. Global Trust Asset Management LLC’s holdings in Starbucks were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Eads & Heald Wealth Management increased its stake in shares of Starbucks by 16.3% in the fourth quarter. Eads & Heald Wealth Management now owns 18,246 shares of the coffee company’s stock worth $1,665,000 after acquiring an additional 2,564 shares during the period. Beaumont Financial Advisors LLC boosted its holdings in Starbucks by 9.8% in the fourth quarter. Beaumont Financial Advisors LLC now owns 4,672 shares of the coffee company’s stock valued at $426,000 after purchasing an additional 417 shares during the last quarter. MCF Advisors LLC grew its position in Starbucks by 20.0% during the 4th quarter. MCF Advisors LLC now owns 1,839 shares of the coffee company’s stock worth $168,000 after purchasing an additional 307 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Starbucks by 0.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,140,119 shares of the coffee company’s stock valued at $104,036,000 after buying an additional 3,132 shares during the period. Finally, JBGlobal.com LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $329,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus raised their price target 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. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, UBS Group increased their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $103.92.

Starbucks Trading Down 0.3 %

SBUX opened at $97.73 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The firm has a market capitalization of $110.81 billion, a PE ratio of 29.53, a PEG ratio of 2.92 and a beta of 0.99. The firm’s 50-day moving average price is $95.72 and its 200 day moving average price is $92.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business earned $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Starbucks Co. will post 3.09 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.