Brookstone Capital Management Sells 2,975 Shares of Starbucks Co. (NASDAQ:SBUX)

Brookstone Capital Management reduced its position in Starbucks Co. (NASDAQ:SBUX) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,683 shares of the coffee company’s stock after selling 2,975 shares during the period. Brookstone Capital Management’s holdings in Starbucks were worth $2,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC increased its position in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter valued at about $49,000. Friedenthal Financial bought a new stake in shares of Starbucks during the third quarter valued at about $50,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Starbucks during the third quarter valued at about $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $93.08 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock has a 50 day moving average price of $95.98 and a two-hundred day moving average price of $91.34. The company has a market capitalization of $105.53 billion, a P/E ratio of 28.12, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks’s dividend payout ratio is presently 73.72%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBUX shares. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Wedbush decreased their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.77.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.