Perkins Coie Trust Co Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

Perkins Coie Trust Co trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,449 shares of the coffee company's stock after selling 4,419 shares during the quarter. Perkins Coie Trust Co's holdings in Starbucks were worth $3,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clarius Group LLC increased its stake in shares of Starbucks by 0.4% during the fourth quarter. Clarius Group LLC now owns 66,907 shares of the coffee company's stock worth $6,105,000 after purchasing an additional 235 shares during the period. HF Advisory Group LLC lifted its holdings in shares of Starbucks by 14.4% during the fourth quarter. HF Advisory Group LLC now owns 16,534 shares of the coffee company's stock worth $1,509,000 after buying an additional 2,076 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Starbucks by 2.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 6,512 shares of the coffee company's stock valued at $594,000 after acquiring an additional 182 shares during the period. Whitaker Myers Wealth Managers LTD. acquired a new position in shares of Starbucks in the fourth quarter valued at about $322,000. Finally, Astoria Portfolio Advisors LLC. increased its position in Starbucks by 1.9% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 6,916 shares of the coffee company's stock worth $644,000 after acquiring an additional 131 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $0.70 during trading on Friday, reaching $95.13. 8,361,293 shares of the stock traded hands, compared to its average volume of 7,954,453. The stock has a market capitalization of $107.86 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The company has a 50-day moving average of $95.84 and a 200-day moving average of $91.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. The business's quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. Starbucks's dividend payout ratio (DPR) is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Wedbush cut their price objective 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. Redburn Atlantic reiterated a "sell" rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and lowered their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Finally, UBS Group raised their price target on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and an average price target 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.