Daymark Wealth Partners LLC Sells 1,516 Shares of Starbucks Co. (NASDAQ:SBUX)

Daymark Wealth Partners LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,323 shares of the coffee company’s stock after selling 1,516 shares during the period. Daymark Wealth Partners LLC’s holdings in Starbucks were worth $1,033,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SBUX. Public Sector Pension Investment Board increased its stake in Starbucks by 73.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after buying an additional 18,420 shares during the period. Fred Alger Management LLC grew its stake in Starbucks by 3.7% in the second quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock valued at $3,320,000 after purchasing an additional 1,503 shares during the last quarter. Elgethun Capital Management grew its position in shares of Starbucks by 4.2% in the 2nd quarter. Elgethun Capital Management now owns 44,863 shares of the coffee company’s stock worth $3,493,000 after buying an additional 1,789 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of Starbucks during the 2nd quarter worth approximately $3,479,000. Finally, DoubleLine ETF Adviser LP purchased a new stake in Starbucks during the second quarter valued at approximately $2,361,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX stock opened at $97.99 on Friday. The business has a 50 day simple moving average of $95.68 and a 200-day simple moving average of $92.04. The firm has a market capitalization of $111.10 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.92 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, equities research analysts expect that Starbucks Co. will post 3.09 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Barclays reduced their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Company 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.