Brookstone Capital Management Sells 2,975 Shares of Starbucks Co. (NASDAQ:SBUX)

Brookstone Capital Management lessened its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,683 shares of the coffee company's stock after selling 2,975 shares during the quarter. Brookstone Capital Management's holdings in Starbucks were worth $2,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management lifted its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. increased its holdings in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock valued at $3,371,000 after buying an additional 8,222 shares during the last quarter. Maia Wealth LLC boosted its stake in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock worth $1,805,000 after acquiring an additional 7,596 shares during the last quarter. Aljian Capital Management LLC grew its position in shares of Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company's stock valued at $2,966,000 after acquiring an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario increased its stake in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on SBUX. Stifel Nicolaus boosted their price target on Starbucks from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Redburn Atlantic restated a "sell" rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays dropped their price target on shares of Starbucks from $110.00 to $108.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Finally, Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.77.

Starbucks Trading Up 1.5 %

NASDAQ:SBUX traded up $1.35 during midday trading on Thursday, hitting $94.43. 6,547,570 shares of the company traded hands, compared to its average volume of 6,622,995. The firm's fifty day moving average is $95.92 and its 200-day moving average is $91.35. The firm has a market capitalization of $107.06 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The firm 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%. The business's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.06 EPS. On average, research analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks's dividend payout ratio is 73.72%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company's stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.