Sigma Planning Corp Trims Stake in Starbucks Co. (SBUX)

Sigma Planning Corp reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,209 shares of the coffee company’s stock after selling 928 shares during the period. Sigma Planning Corp’s holdings in Starbucks were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC acquired a new position in shares of Starbucks in the fourth quarter worth approximately $3,579,000. WESPAC Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter worth approximately $251,000. Questar Asset Management Inc. acquired a new position in shares of Starbucks in the fourth quarter worth approximately $217,000. Arjuna Capital lifted its stake in shares of Starbucks by 7.1% in the fourth quarter. Arjuna Capital now owns 11,457 shares of the coffee company’s stock worth $738,000 after acquiring an additional 761 shares during the period. Finally, Tuttle Tactical Management lifted its stake in shares of Starbucks by 111.7% in the fourth quarter. Tuttle Tactical Management now owns 55,029 shares of the coffee company’s stock worth $2,817,000 after acquiring an additional 29,029 shares during the period. Institutional investors own 77.28% of the company’s stock.

Shares of NASDAQ:SBUX traded up $0.24 during trading on Friday, reaching $71.08. 134,792 shares of the stock were exchanged, compared to its average volume of 12,462,586. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $71.54. The firm has a market capitalization of $88.10 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.02 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Starbucks’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, February 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, February 6th. Starbucks’s payout ratio is 59.50%.

In other news, insider John Culver sold 169,096 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $68.81, for a total transaction of $11,635,495.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 152,634 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the transaction, the insider now directly owns 311,083 shares in the company, valued at $20,910,999.26. The disclosure for this sale can be found here. Insiders have sold 495,442 shares of company stock worth $33,860,990 over the last ninety days. 3.98% of the stock is owned by insiders.

A number of research firms recently commented on SBUX. Royal Bank of Canada lifted their price objective on Starbucks to $68.00 and gave the stock a “positive” rating in a research note on Friday, November 2nd. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 2nd. KeyCorp set a $70.00 price target on Starbucks and gave the company a “buy” rating in a research note on Friday, December 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $67.01.

TRADEMARK VIOLATION WARNING: “Sigma Planning Corp Trims Stake in Starbucks Co. (SBUX)” was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.themarketsdaily.com/2019/02/15/sigma-planning-corp-trims-stake-in-starbucks-co-sbux.html.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Featured Story: Net Income

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:SBUX).

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.