Gateway Investment Advisers LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Gateway Investment Advisers LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,665 shares of the coffee company's stock after selling 4,203 shares during the period. Gateway Investment Advisers LLC's holdings in Starbucks were worth $5,901,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $25,000. DT Investment Partners LLC boosted its holdings in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter valued at $49,000. Friedenthal Financial bought a new position in Starbucks in the 3rd quarter worth $50,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Starbucks in the 3rd quarter worth about $71,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX traded up $0.70 during trading hours on Friday, hitting $95.13. The stock had a trading volume of 8,361,293 shares, compared to its average volume of 7,954,453. The firm has a market capitalization of $107.86 billion, a PE ratio of 28.74, a PEG 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. The stock has a fifty day moving average price of $95.84 and a 200 day moving average price of $91.50.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting 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 for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, analysts anticipate that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks's payout ratio is 73.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBUX. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Sanford C. Bernstein raised Starbucks from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on Starbucks from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. UBS Group upped their price target on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Finally, Wedbush lowered their price objective on Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.92.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by company insiders.

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.