Geneos Wealth Management Inc. Sells 205 Shares of Starbucks Co. (NASDAQ:SBUX)

Geneos Wealth Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,135 shares of the coffee company’s stock after selling 205 shares during the period. Geneos Wealth Management Inc.’s holdings in Starbucks were worth $1,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annandale Capital LLC raised its holdings in shares of Starbucks by 60.9% in the second quarter. Annandale Capital LLC now owns 9,775 shares of the coffee company’s stock valued at $761,000 after purchasing an additional 3,700 shares during the last quarter. Clearline Capital LP purchased a new stake in Starbucks in the 2nd quarter valued at about $1,635,000. Magnolia Capital Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth approximately $1,383,000. Nemes Rush Group LLC grew its holdings in shares of Starbucks by 6.4% in the second quarter. Nemes Rush Group LLC now owns 22,408 shares of the coffee company’s stock valued at $1,744,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Silver Lake Advisory LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $232,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated 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 trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.8 %

Shares of SBUX opened at $98.81 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The company has a market cap of $112.03 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The stock has a 50-day moving average price of $95.66 and a 200-day moving average price of $92.39.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, analysts predict that Starbucks Co. will post 3.08 earnings per share 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. 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 2.47%. Starbucks’s payout ratio is 73.72%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday. Redburn Atlantic restated 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. Finally, JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three 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 stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus 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.