Macguire Cheswick & Tuttle Investment Counsel LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,116 shares of the coffee company’s stock after selling 725 shares during the quarter. Starbucks makes up about 2.0% of Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings, making the stock its 17th largest position. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Starbucks were worth $9,474,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Veritas Investment Management LLP purchased a new position in shares of Starbucks in the fourth quarter valued at $28,000. Highwater Wealth Management LLC purchased a new position in shares of Starbucks in the fourth quarter valued at $28,000. Clean Yield Group purchased a new position in shares of Starbucks in the fourth quarter valued at $33,000. Doyle Wealth Management purchased a new position in shares of Starbucks in the fourth quarter valued at $42,000. Finally, Country Trust Bank grew its position in shares of Starbucks by 106.2% in the fourth quarter. Country Trust Bank now owns 732 shares of the coffee company’s stock valued at $47,000 after purchasing an additional 377 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.
Shares of SBUX stock opened at $70.74 on Friday. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. Starbucks Co. has a 12-month low of $47.37 and a 12-month high of $72.18. The stock has a market cap of $87.11 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.01 and a beta of 0.50.
The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Thursday, February 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, February 6th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
In other Starbucks news, EVP Vivek C. Varma sold 73,242 shares of Starbucks stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the completion of the sale, the executive vice president now owns 140,882 shares of the company’s stock, valued at $9,630,693.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clifford Burrows sold 152,634 shares of Starbucks stock in a transaction dated 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 sale, the insider now directly owns 311,083 shares of the company’s stock, valued at approximately $20,910,999.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 565,806 shares of company stock valued at $38,789,988. Corporate insiders own 3.98% of the company’s stock.
SBUX has been the subject of several research analyst reports. Zacks Investment Research reissued a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research note on Thursday, November 15th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 15th. Jefferies Financial Group reissued a “buy” rating and set a $76.00 price objective on shares of Starbucks in a research note on Friday, November 30th. They noted that the move was a valuation call. Telsey Advisory Group reissued a “market perform” rating and set a $70.00 price objective (up previously from $66.00) on shares of Starbucks in a research note on Monday, December 3rd. Finally, Royal Bank of Canada lifted their price objective on Starbucks to $74.00 and gave the company an “outperform” rating in a research note on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. Starbucks currently has an average rating of “Hold” and an average target price of $67.01.
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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.
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