Signature Wealth Management Group Lowers Stake in Starbucks Co. (SBUX)

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Signature Wealth Management Group reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 8.7% in the fourth quarter, Holdings Channel reports. The fund owned 9,108 shares of the coffee company’s stock after selling 867 shares during the quarter. Signature Wealth Management Group’s holdings in Starbucks were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gardiner Nancy B lifted its position in Starbucks by 2.8% in the fourth quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock worth $367,000 after buying an additional 156 shares during the last quarter. Kistler Tiffany Companies LLC lifted its position in Starbucks by 1.8% in the fourth quarter. Kistler Tiffany Companies LLC now owns 9,319 shares of the coffee company’s stock worth $600,000 after buying an additional 162 shares during the last quarter. Old North State Trust LLC lifted its position in Starbucks by 26.7% in the fourth quarter. Old North State Trust LLC now owns 822 shares of the coffee company’s stock worth $52,000 after buying an additional 173 shares during the last quarter. Campbell Newman Asset Management Inc. lifted its position in Starbucks by 1.0% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,716 shares of the coffee company’s stock worth $1,205,000 after buying an additional 184 shares during the last quarter. Finally, Mycio Wealth Partners LLC lifted its position in Starbucks by 5.6% in the fourth quarter. Mycio Wealth Partners LLC now owns 3,799 shares of the coffee company’s stock worth $245,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

In related news, EVP Vivek C. Varma sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $69.13, for a total transaction of $3,456,500.00. Following the sale, the executive vice president now owns 117,640 shares of the company’s stock, valued at $8,132,453.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 152,634 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total value of $10,260,057.48. Following the sale, the insider now directly owns 311,083 shares in the company, valued at approximately $20,910,999.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 565,806 shares of company stock worth $38,789,988. 3.98% of the stock is owned by corporate insiders.

A number of research firms have weighed in on SBUX. Bank of America set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Friday, January 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 target price on shares of Starbucks in a research note on Friday, November 30th. They noted that the move was a valuation call. Mizuho set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Friday, December 14th. KeyCorp set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Friday, December 14th. Finally, Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Monday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.01.

Shares of Starbucks stock opened at $70.67 on Friday. The firm has a market cap of $87.89 billion, a PE ratio of 29.20, a PEG ratio of 2.01 and a beta of 0.50. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $72.18.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Thursday, February 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Wednesday, February 6th. Starbucks’s payout ratio is currently 59.50%.

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Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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