J.W. Cole Advisors Inc. Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

J.W. Cole Advisors Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 31.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,997 shares of the coffee company’s stock after selling 3,753 shares during the period. J.W. Cole Advisors Inc.’s holdings in Starbucks were worth $727,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBUX. Bell Investment Advisors Inc increased its position in shares of Starbucks by 49.4% in the 4th quarter. Bell Investment Advisors Inc now owns 345 shares of the coffee company’s stock worth $40,000 after purchasing an additional 114 shares during the last quarter. Mather Group LLC. increased its position in shares of Starbucks by 3.0% in the 4th quarter. Mather Group LLC. now owns 3,895 shares of the coffee company’s stock worth $456,000 after purchasing an additional 114 shares during the last quarter. Means Investment CO. Inc. increased its position in shares of Starbucks by 0.4% in the 4th quarter. Means Investment CO. Inc. now owns 31,819 shares of the coffee company’s stock worth $3,722,000 after purchasing an additional 118 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Starbucks by 0.3% in the 4th quarter. Wetherby Asset Management Inc. now owns 47,185 shares of the coffee company’s stock worth $5,520,000 after purchasing an additional 124 shares during the last quarter. Finally, Wills Financial Group Inc. increased its position in shares of Starbucks by 1.0% in the 4th quarter. Wills Financial Group Inc. now owns 12,134 shares of the coffee company’s stock worth $1,419,000 after purchasing an additional 125 shares during the last quarter. 67.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. Cowen boosted their target price on shares of Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. UBS Group boosted their target price on shares of Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Cowen boosted their price objective on shares of Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Sanford C. Bernstein began coverage on shares of Starbucks in a research report on Wednesday, September 7th. They set a “market perform” rating and a $94.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Starbucks from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Fifteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.71.

Starbucks Price Performance

SBUX stock opened at $91.31 on Monday. Starbucks Co. has a 12 month low of $68.39 and a 12 month high of $117.80. The firm has a market cap of $104.77 billion, a PE ratio of 25.72, a P/E/G ratio of 2.46 and a beta of 0.94. The firm has a 50 day simple moving average of $85.13 and a 200 day simple moving average of $81.42.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a $0.49 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 2.15%. Starbucks’s dividend payout ratio (DPR) is presently 55.21%.

Insider Activity at Starbucks

In other news, Director Mellody L. Hobson purchased 54,750 shares of Starbucks stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the transaction, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mellody L. Hobson acquired 54,750 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the purchase, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the transaction, the executive vice president now owns 36,337 shares in the company, valued at approximately $3,379,341. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

About Starbucks

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

Featured Articles

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXGet Rating).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.