Starbucks Co. (NASDAQ:SBUX) Holdings Reduced by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 205,867 shares of the coffee company’s stock after selling 895 shares during the period. Starbucks makes up approximately 1.9% of Washington Trust Advisors Inc.’s holdings, making the stock its 18th biggest position. Washington Trust Advisors Inc.’s holdings in Starbucks were worth $19,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Willow Creek Wealth Management Inc. lifted its position in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares in the last quarter. Investment Advisory Services Inc. TX ADV grew its stake in shares of Starbucks by 0.7% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after acquiring an additional 100 shares in the last quarter. Valley Brook Capital Group Inc. grew its stake in shares of Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after acquiring an additional 100 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in Starbucks by 4.6% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after purchasing an additional 100 shares during the period. Finally, Herold Advisors Inc. lifted its position in Starbucks by 4.3% during the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after purchasing an additional 100 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. HSBC started coverage on shares of Starbucks in a research report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price target for the company. BTIG Research dropped their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.05.

Starbucks Stock Up 1.0 %

SBUX traded up $0.89 during trading hours on Wednesday, hitting $91.25. The stock had a trading volume of 3,677,302 shares, compared to its average volume of 8,578,986. The stock has a market cap of $103.31 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. Starbucks Co. has a 1 year low of $89.21 and a 1 year high of $115.48. The company’s fifty day simple moving average is $93.09 and its 200 day simple moving average is $95.23.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities analysts expect that Starbucks Co. will post 4.06 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 4,000 shares of company stock valued at $375,665. 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.