Starbucks Co. (NASDAQ:SBUX) Shares Sold by Cable Hill Partners LLC


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Cable Hill Partners LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,838 shares of the coffee company’s stock after selling 1,621 shares during the period. Starbucks comprises about 0.3% of Cable Hill Partners LLC’s holdings, making the stock its 22nd largest position. Cable Hill Partners LLC’s holdings in Starbucks were worth $1,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hoover Financial Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $26,000. American Research & Management Co. grew its holdings in shares of Starbucks by 225.0% during the third quarter. American Research & Management Co. now owns 325 shares of the coffee company’s stock worth $28,000 after buying an additional 225 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Starbucks during the third quarter worth about $31,000. Clark Financial Advisors purchased a new position in shares of Starbucks during the fourth quarter worth about $33,000. Finally, Phoenix Wealth Advisors purchased a new position in shares of Starbucks during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 67.27% of the company’s stock.

Shares of Starbucks stock traded up $0.30 during trading on Tuesday, hitting $102.11. 128,977 shares of the company were exchanged, compared to its average volume of 5,894,419. Starbucks Co. has a fifty-two week low of $50.02 and a fifty-two week high of $107.75. The stock has a market capitalization of $120.21 billion, a price-to-earnings ratio of 132.22, a P/E/G ratio of 2.67 and a beta of 0.82. The firm has a 50 day moving average price of $103.43 and a 200 day moving average price of $94.14.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Monday, January 25th. The coffee company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the firm posted $0.79 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 2.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 5th. Investors of record on Thursday, February 18th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, February 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.76%. Starbucks’s dividend payout ratio is currently 153.85%.

A number of research firms recently issued reports on SBUX. BMO Capital Markets raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $120.00 in a report on Tuesday. Morgan Stanley raised their price target on Starbucks from $106.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 27th. Stephens raised their price target on Starbucks from $86.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, December 10th. They noted that the move was a valuation call. Jefferies Financial Group lifted their price objective on Starbucks from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 10th. Finally, Citigroup lifted their price objective on Starbucks from $111.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, January 27th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Starbucks has a consensus rating of “Buy” and an average target price of $102.26.

In related news, Director Joshua Cooper Ramo sold 2,925 shares of Starbucks stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $98.28, for a total transaction of $287,469.00. Following the completion of the transaction, the director now directly owns 25,200 shares in the company, valued at approximately $2,476,656. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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