Mackenzie Financial Corp Sells 182,463 Shares of Starbucks Co. (NASDAQ:SBUX)

Mackenzie Financial Corp lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,565,441 shares of the coffee company’s stock after selling 182,463 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Starbucks worth $150,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Cerity Partners LLC boosted its stake in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after purchasing an additional 7,619 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after purchasing an additional 3,570 shares during the last quarter. Motco boosted its stake in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after purchasing an additional 811 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $1,348,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.3 %

NASDAQ SBUX opened at $85.17 on Tuesday. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market capitalization of $96.43 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The firm’s 50 day moving average is $91.71 and its 200-day moving average is $94.57.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $0.75 earnings per share. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.68%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SBUX shares. Citigroup reduced their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday. Piper Sandler cut their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, January 16th. Robert W. Baird cut their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, BTIG Research cut their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average price target of $107.71.

Starbucks 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.